AFESD, Jordan sign $70.6M Agreements to Fund Development ProjectsSource: www.export-egypt.com 12/28/2015, Location: Middle East |
|
|
|
|
|
Arab Fund for Economic and Social Development (AFESD) and Jordan signed, two loan agreements and one grant for USD 70.6 million to fund development projects in Jordan.
The agreements were signed by Director General and Chairman of the Board of Directors of the Arab Fund Abdlatif Yousef Al-Hamad, and by Jordan's Minister of Planning and International Cooperation Imad Fakhoury. Al-Hamad said that Jordan has been struggling with economic challenges due to the Syrian refugees and many other reform programs; however, it has been exerting all efforts to face these obstacles by setting up various social and economic projects. Fakhoury, meanwhile, explained that the USD one million grant will be allocated to purchase a weather radar and all of its applications for meteorological department. One of the loans, worth USD 19.6 million, will go to developing the infrastructure in Petra in order to activate its tourism sector. The second, worth USD 50 million, will fund medium to small businesses as a solution to combat unemployment. Fakhoury expressed his appreciation to AFESD's unwavering support to Jordan's efforts to improve its economy. From 1975 to 2015, the AFESD funded and built 46 primary development projects in Jordan that amounted to USD 1.9 billion. Grants given during the same period reached USD 46 million. In addition, the AFESD funded a number of medium to small enterprises through concessional loans that amounted to USD 80 million. |
|
|
Investment News in Jordan >> |
 |
|||||
| Jordan Oil & Gas 1 >> 2 | |
