PM attends signing of $60 million grant agreement with Saudi fund | Business | Ammon News

PM attends signing of $60 million grant agreement with Saudi fund

[9/13/2017 10:06:49 AM]

AMMONNEWS - The government signed with the Saudi Fund for Development on Wednesday, a $60 million- grant agreement to implement traffic intersections in the capital Amman.

The grant agreement, which was signed in the presence of Prime Minister Hani al-Mulki, comes as part of Saudi Arabia’s contribution to the Gulf Cooperation Council (GCC) grant to the Kingdom.

The agreement includes the construction of 1,370-meter bridges and 220-meter tunnels at three main intersections in Amman. These include the Khraibet Al Souq-Central Market intersection, AL-Hurriah street-Al Quds Street intersection and the Marj Al Hamam intersection on Amman-Dead Sea Road.

The grant agreement was signed by Minister of Planning and International Cooperation Imad Fakhoury and the Saudi Fund for Development vice chairman and managing director, Yousef Ibrahim Al Bassam.

During a meeting with Al Baasam, the prime minister voiced the Kingdom's appreciation for the continued Saudi support to Jordan, adding that the GCC support to the Kingdom helped it in addressing challenges resulting from the Syrian refugee crisis.

This support, he added, enabled the Kingdom to overcome challenges and provide basic services to Syrian refugees, mainly in the education and health sectors.

Al Bassam for his part, praised the level of cooperation between the Jordanian government and the fund that extends to 40 years. He said the Saudi government, under the directives of Saudi King Salman Bin Abdul Aziz, will continue its support to Jordan.

In a press statement following the signing ceremony, the planning minister thanked Saudi Arabia's King, government and people for their continued support to Jordan.

Fakhoury voiced Jordan's keenness to continue cooperation with Saudi Arabia in various domains, pointing to the Saudi $1.25 billion grant to Jordan that will be used to carry out development projects in various sectors.

In 2011, the GCC's Supreme Council approved a $5 billion grant to fund development projects in Jordan over a five-year period, shared by Saudi Arabia, the United Arab Emirates, Kuwait and Qatar with $1.25 billion from each country.

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