Jordan reveals Saudi-funded projects
Jordan has announced the projects that will be funded with Saudi and GCC money
Click here to add Ministry of Planning and International Cooperation as an alert
Disable alert for Ministry of Planning and I ...,
Click here to add Saudi Development Fund as an alert
Disable alert for Saudi Development Fund,
Click here to add Yusuf Bassam as an alert
Disable alert for Yusuf Bassam
The Ministry of Planning and International Cooperation on Sunday unveiled the first four projects that will be funded by the first payment of Saudi contribution to the $5 billion Gulf Cooperation Council Grant (GCC).
The priority development projects are valued at $487 million, out of a total $786.4 million allocated for the entire first phase.
An agreement on remaining $299 million will million be signed during the visit of Chairman of the Saudi Development Fund Yusuf Bassam to Jordan soon, the ministry said in a statement.
Around $165 million will be dedicated to the establishment of several hospitals, including one each in Mafraq, Jerash and Ajloun, in addition to supplying several other hospitals with needed equipment.
Some $136 million of the first payment will be spent on construction and furnishing schools in various areas of the Kingdom.
The third and fourth projects aim at bettering the sewer grid system with $132 million, and road construction work for $54 million, respectively.
The Saudi grant is part of its $1.25 billion contribution to the $5 billion grant to Jordan, endorsed by the GCC last year.
During a GCC summit in December 2011, Saudi Arabia, the United Arab Emirates, Kuwait and Qatar decided to extend the aid over a five-year period to support development projects in Jordan, with each state paying $1.25 billion.
- Al Tayer bucks the US department store trend with Bloomingdale's Kuwait opening
- Gulf Islamic banks set to outperform conventional banks for second year: Moody's
- Jordan secures EU finance for socioeconomic and environmental programs
- Same-day service deliveries in GCC an untapped market: Wing CEO
- Will terror attacks damper Arabs' appetite for European holidays?
- Microsoft Reveals the Three Finalists of Imagine Cup Jordan 2009
- Norway allocates $1 million grant to Jordan
- Saudi Fund grants $218M aid for Jordan infrastructure, development projects
- No wonder it's going nuclear: Jordan says Egypt's gas disruptions to cost it over $2 billion
- Saudi road projects allocated $707 million