Latest news with #GermanDevelopmentBank
Zawya
23-05-2025
- Business
- Zawya
Jordan: Foreign grants down 93.2% in Q1 2025; $2.1bln in new pledges secured
AMMAN — Foreign grants to Jordan plummeted to JD3.4 million in the first quarter of 2025, a sharp decline from JD49.6 million during the same period last year, marking a drop of JD46.2 million, or 93.2 per cent, according to the Ministry of Finance. Despite this downturn, the Ministry of Planning and International Cooperation secured over $2.1 billion in new funding commitments in April to finance major national projects, Al Mamlaka TV reported. A government performance report for April revealed that the Planning Ministry had signed agreements and received pledges from key development partners, including the World Bank, the German Development Bank (KfW), the Dutch Embassy, and the Arab Fund for Economic and Social Development. On the domestic front, government revenues increased by JD150 million in the first quarter of 2025, reaching JD2.16 billion compared to JD2.01 billion in the same period last year. Tax revenues totalled JD1.582 billion, comprising JD1.076 billion from general sales tax on goods and services, JD419 million from income and profit taxes, JD24 million from real estate sales tax, and JD63 million from taxes on international trade and transactions. Non-tax revenues for the same period amounted to JD 578 million, the data revealed. Meanwhile, Jordan's gross public debt, including liabilities held by the Social Security Investment Fund (SSIF), reached 118.4 per cent of GDP by the end of the first quarter. Excluding SSIF-held debt, the figure drops to 91.5 per cent, declining further to 90.9 per cent when a Central Bank of Jordan deposit allocated for repaying Eurobonds due in June is subtracted. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Ammon
18-05-2025
- Business
- Ammon
Planning Ministry receives $2.1 billion in pledges to finance projects
Ammon News - The Ministry of Planning and International Cooperation received new pledges to finance major projects through grants and loans worth more than $2 billion during April. The Ministry signed financing agreements and secured pledges worth $2.1 billion with several entities, including the World Bank, the German Development Bank, the Dutch Embassy, and the Arab Fund for Economic and Social Development, according to a summary report on the achievements of ministries and government institutions for April. In the report, published by the Ministry of Government Communication, the Ministry of Planning signed financing agreements with the World Bank worth $1.1 billion to finance a group of projects aimed at promoting growth, supporting startups and small and medium-sized enterprises, and expanding social protection. The funding includes a $400 million Development Policy Agreement for Growth and Competitiveness in Jordan, aimed at unlocking investment opportunities, increasing exports, and creating jobs, particularly for youth and women. The second phase of the Jordan Innovative Startup Fund, with a budget of $50 million, aims to boost early-stage equity financing for high-growth startups in key sectors such as information and communications technology, financial technology, green technology, and health technology. The Resilient and Sustainable Social Protection Program ($400 million) is designed to improve Jordan's ability to respond to shocks while enhancing support for vulnerable groups. Additional financing for the Electricity Sector Supply Efficiency and Reliability Program ($250 million) enhances Jordan's support for the transition to clean energy, while improving grid stability and financial sustainability. Also, the Ministry signed a €200 million agreement with the German Development Bank to support the implementation of the Economic Modernization Vision and economic reforms. The Ministry of Planning and the Dutch Embassy in Amman signed a grant agreement worth €31 million to contribute to financing the National Water Carrier Project and provide sustainable solutions to address water scarcity and the effects of climate change.
Morocco World
29-03-2025
- Business
- Morocco World
Morocco Launches New Seawater Desalination Plant in Sidi Ifni
Rabat – The National Office of Electricity and Drinking Water (ONEE) has started operating a new seawater desalination plant to strengthen and secure the drinking water supply for Sidi Ifni and nearby areas. These include areas in the provinces of Sidi Ifni and Tiznit, such as Aglou, Mirleft, and Arbaa Sahel, as well as rural communities in both provinces, said ONEE in a statement. The project, which cost nearly MAD 320 million, was funded through a loan from the German Development Bank (KfW). The first phase of the project involves building a desalination plant with a daily capacity of 8,640 cubic meters (100 liters per second), which can later be expanded to 17,280 cubic meters per day (200 liters per second). It also includes the installation of a 54-kilometer-long water pipeline, with diameters ranging from 400 to 500 millimeters. ONEE noted that the Sidi Ifni plant uses reverse osmosis technology, which incorporates the latest energy recovery systems to optimize the cost of producing desalinated water. The project is part of the National Drinking Water Supply and Irrigation Program (PNAEPI) 2020-2027. The agreement for this program was signed before King Mohammed VI in early 2020. The new plant in Sidi Ifni will ensure a stable water supply for an estimated 85,000 residents and reduce pressure on the Youssef Ben Tachfine Dam, which was previously the main water source for the region. The project is set to improve the living conditions of local communities and support economic and tourism development in the area. ONEE has carried out other major water and sanitation projects in the Guelmim-Oued Noun region to meet the growing demand for these essential services. It stated that over the past 15 years, a total investment of MAD 900 million has been made in the region. Several cities in the Guelmim-Oued Noun region have been struggling with frequent water cuts and shortages. This reflects the severity of Morocco's ongoing water crisis, which has been worsened by drought and increasing demand. Tags: desalinationSidi Ifniwater
Iraqi News
24-03-2025
- Business
- Iraqi News
Germany: €15 million for Sinjar home reconstruction project
INA – BAGHDAD The German Development Bank announced on Monday a €15 million Sinjar home reconstruction project, affirming the ongoing support for Iraq through grants and loans to stimulate the economy. "Our projects began in 2015 through several partnerships with government agencies and United Nations organizations. We have implemented numerous projects in the fields of health, energy, education, private sector support, water and electricity services, and many other sectors," said the Director of the German Development Bank, Mark-Andre Hensel, to the Iraqi News Agency - INA. He added, "Our journey as a partnership has been very fruitful, and we appreciate the support and cooperation we have received from our partners. We look forward to longer and better partnerships in Iraq." "The German Development Bank has numerous contributions to the Iraqi government, through financial grants and loans. We have worked in cooperation with the German government. We are closely monitoring the development of the Iraqi market and are looking for opportunities to support this progress across Iraq," Hensel added. Regarding the rural infrastructure project, Hensel explained that "the fourth phase of the project concerns the reconstruction of houses in Sinjar for 15 million euros," noting that "the previous three phases of the project ranged in value from 15 to 20 million euros each."
Morocco World
01-03-2025
- Business
- Morocco World
ONEE Launches MAD 41 Million Project to Enhance Drinking Water Supply
Rabat – The National Office of Electricity and Drinking Water (ONEE) has launched the first phase of a key project designed to enhance the drinking water supply in several provinces. The project covers the Mkanssa commune in the Taounate province, as well as neighboring areas in Sidi Kacem and Moulay Yaacoub. Valued at 41 million Moroccan dirhams, the initiative aims to improve the region's access to clean water through production facilities sourced from the Al Wahda dam. Funded by ONEE, with a loan from the German Development Bank (Kreditanstalt für Wiederaufbau/KFW), the first phase of the project has a cost of 24 MDH. It involves the installation of 28.5 kilometers of pipelines with diameters ranging from 300 to 400 mm to connect the production systems to the local communities. The second phase, scheduled for completion by December 2025, will include the construction of a 500 m³ drinking water reservoir and a pumping station capable of pumping 45 liters per second. This project is part of the National Drinking Water Supply and Irrigation Program (PNAEPI) 2020-2027, which was officially launched in January 2020 under the guidance of His Majesty King Mohammed VI. The goal of the program is to ensure the continuous and secure water supply to the communes of Mkanssa, El Ghouazi, and Beni Snous in Taounate. Additionally, it will benefit the communes of Mrabih and Selfat in Sidi Kacem, and Sebt Loudaya in Moulay Yaâcoub, providing clean water to a total of over 72,000 people. The project is expected to significantly improve the living conditions of the local populations and contribute to the region's socio-economic development. Tags: Drinking Water Projectfes meknes regionwater supply
