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Russia’s upper house ratify Jordan’s debt restructuring agreement

October 26, 2016, 21:49 UTC+3 MOSCOW

Jordan will have to purchase military and technical products in Russia in the amount of the debt until 2019

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MOSCOW, October 26. /TASS/. Council of Federation, the upper house of the Russian parliament, ratified on Wednesday the debt restructuring agreement between Russia and Jordan, stipulating extension of credit repayment period and change of format for its repayment.

Russia extended the $350 mln export credit to armed forces of Jordan in 2006.

Jordan will undertake to purchase military and technical products in Russia in the amount of the debt until 2019, Deputy Chairman of International Affairs Committee in the Federation Council Arsen Kanokov said. "Jordan will have to promptly repay the debt in case this does not take place," Kanokov said.

Ratification of the agreement will strengthen bilateral relations, he added.

The document amends the procedure for repayment of the loan granted by Russia in 2006, Deputy Finance Minister Sergey Storchak said earlier.

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