The agreement, under which the amount will used for financing economic development projects in Jordan, is the second debt-for-projects swap accord between the two countries over the past three years, Jordanian Finance Minister Mohammad Abu Hammour said during the signing ceremony.

A joint Jordanian-Italian panel was set up for overseeing the implementation of the development projects involved in the debt swap accord.

Abu Hammour thanked the Italian government for its contribution to the economic and social development process in Jordan through this agreement and other economic aid forms.