Kuwait provides Jordan with $695 in development projects

(ANSAmed) AMMAN, DECEMBER 12 - Jordan signed $695 million worth agreements with Kuwait to fund three development projects including housing project, municipality support and transportation, said officials from ministry of planning today. The agreement to receive the funds is part of a total commitment of $1.25 billion contribution to the Kingdom under a $5 billion Gulf Cooperation Council assistance provided by the council. The agreement was signed by Minister of Planning and International Cooperation Jafar Hassan and the Kuwait Fund for Arab Economic Development. Jordan will work on road safety project that entails improvements to intersections, street lighting and bridges and a public transportation scheme to link Amman and Zarqa. Jordan said it will also allocate some $259.48 million from the total 1.25 billion to projects in the health, education, energy and water sectors. Jordan agreement with the gulf was approved after a request by the kingdom to join the gulf cooperation council was rejected. The rich countries agreed to provide financial assistance worth nearly $ 5 billion to Jordan to help social stability in a country suffering from high foreign debt and mounting economic difficulties. (ANSAmed).

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