Jordan grateful for Kuwaiti USD 1.2 billion grant says minister | Business | Ammon News

Jordan grateful for Kuwaiti USD 1.2 billion grant says minister

[10/28/2017 5:31:30 AM]

AMMONNEWS - Contributing to first priority development projects in Jordan within the upcoming five years, Kuwait has allocated a sum of USD 1.2 billion as part of the GCC grant.

The Kuwaiti contribution helped the Jordanian authorities to execute some vital projects in the country despite the political and security instabilities in the region resulting from the Syrian crisis.

Speaking to KUNA on the Kuwaiti contributions, Minister of Planning and International Cooperation Imad Fakhoury lauded the outstanding support provided by the State of Kuwait to his country.

Although the government was under considerable pressure caused by the regional status quo, Jordan will continue its road for development, said the minister who applauded Kuwait for providing assistance in this regard.

The GCC grant, which Kuwait is part of, plays an integral part in offering finances to the various projects being carried out in the country, said Fakhoury who pointed out that of the USD 1.2 billion, Jordan had used around USD 1.1 billion until last September.

Fakhoury said projects funded by the Kuwaiti grant would finish by 2018, adding that the Kuwait Fund for Arab Economic Development (KFAED) handled most of the transactions.

Combating poverty as well as developing agriculture and municipal services took around 43 per cent of the grant, revealed the minister, adding that 17 per cent was allocated for the sector of energy and mineral resources, 10 per cent for road development, seven per cent for the health sector, another seven per cent for water and irrigation, as well as four per cent for transportation.

Minister Fakhoury took the chance to thank Kuwait's KFAED contributions to aid the Syrian refugees between 2014 and 2016, saying that the fund's USD 58 million contribution have help the Jordanians to better deal with the crisis.

The minister also touched on the history of cooperation between the Jordanian government and the KFAED, revealing that the fund had left a memorable impression through contributing a sum of USD 579 million to some 26 economic and social projects between 1962 and 2017.

Meanwhile, a report by the Ministry of Planning revealed that the Kuwait grant had contributed chiefly to the development of a liquefied gas project, which was opened in 2015. The project cost around USD 65 million.

A wind-powered station in Ma'an area also benefited from the Kuwaiti project with a sum of USD 150 million allocated for its construction. It is still under construction.

A total of USD 218 million of the Kuwaiti grant was allocated to water and other projects of vital importance.

The 2011 GCC summit in Riyadh agreed to provide a USD five billion grant to first priority development projects in Jordan.


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