Ammon News - Prime Minister Dr. Jafar Hassan said that major national projects contribute to strengthening Jordan’s sources of power and consolidating its economic resilience.

In a statements after the signing of the final technical and legal agreement for the National Water Carrier Project, Hassan added "We have achieved progress in several major national projects despite all the regional circumstances surrounding us."

The Prime Minister indicated that the major national projects are the result of His Majesty the King’s directives.

Hassan noted that the project offers nearly 40% of the Kingdom’s drinking water needs, adding that he expects water pumping to begin in 2030, forming a key pillar in enhancing national water security.

He explained that the 300 million cubic meters of water that the project will provide annually is close to the capacity of all the Kingdom’s dams, and about 3 times what the Disi project produces, and will raise the percentage of water supply in the Kingdom to 40% of what it is now.

He pointed out that the annual per capita share will double from 60 to 110 cubic meters of water per year, and will contribute to increasing the number of days of water supply, from one day to 3 days a week, in all governorates of the Kingdom.

The Prime Minister stated that the project will be financed by 29 donors and international financial institutions, with total grants estimated at $663 million provided by the United States, the European Union, Germany, the Netherlands, the United Kingdom, France, Italy, Japan, and the Green Climate Fund.

He added that private sector financing for Meridiam will come from several international financial institutions, including the World Bank Group, the European Investment Bank, the European Bank for Reconstruction and Development, the Islamic Development Bank, Proparco, the Japan International Cooperation Agency, the Green Climate Fund, and the OPEC Fund for International Development, among others, totaling $2.9 billion.

The government will contribute $722 million to finance the project—the largest budget allocation ever for a capital project—aimed at reducing the cost per cubic meter of water during its implementation, according to Hassan, indicating that a consortium of Jordanian commercial banks, led by Housing Bank for Trade and Finance, will provide up to $1.1 billion in financing. The Social Security Investment Fund will also contribute through this banking consortium, in addition to participating directly in the project as an equity partner alongside Meridiam.