EIB loans $32 million to Amman Ring Road project
The European Investment Bank (EIB), the EU's long-term financing institution, is providing a loan of $32 million (€26 million) to the Hashemite Kingdom of Jordan for the construction of the first phase of the Amman ring road.
The project consists of the construction of the first phase of the planned road, which is expected to have a total length of 116 kilometers. The first phase will see the construction of 41 kilometers on the eastern end of Amman. It also includes the relocation of the Amman Customs Depot and the infrastructure and utility services for an inland port.
According to EIB, the project will contribute to the improved quality of life in Amman. It provides a bypass on the main North-South border link and the port of Aqaba, while alleviating at the same time local traffic in the rapidly growing capital of Jordan. The project is co-financed by EIB, World Bank and the Arab Fund for Social and Economic Development. — (menareport.com)
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