Saudi Fund for Development to Fund Development Project in Jordan
November 30, 2015
The Saudi Fund for Development and Jordan today singed three agreements in Amman to finance development projects in the Hashemite Kingdom.
The first agreement is a $65 million grant to finance the reconstruction and rehabilitation Highway 15 (also known as the Desert Highway) which runs from Aqaba in the south to Ma’an in the north. The second agreement is a framework agreement to grant $100 million as contribution by Saudi Arabia to support priority development projects in the Jordanian communities hosting Syrian refugees. The third agreement is a $53.3 million soft loan guarantee to finance the fourth steam-unit project for the Samra power plant.
The total grants and loans provided by the Kingdom to Jordan amounted to SR 6.98 billion ($1.86 billion).