Jordan signs $878m agreement with USAID

Mubasher: Jordan and the United States have inked four grant agreements worth $787 million, as part of the US 2016 economic aid program to the Kingdom, reported Jordan News Agency (Petra).

Imad Fakhoury, Jordanian minister of planning and international cooperation and Jim Barnhart, director of the United States agency for international development (USAID) signed the agreements on Sunday.

According to Fakhoury a further $25 million will be provided under a concessional financing mechanism launched last year by the United Nations, World Bank and the Islamic Development Bank in order to reduce the cost of borrowing of middle-income countries such as Jordan.

The aid will be distributed as the following, a total of $470 million will be allocated to the general budget, which is expected to be transferred to the Treasury before the end of 2016, $100 million will be allocated to the Red Sea-Dead Sea Water Conveyance Project, while the rest of the aid, totalling $217 million, will be disbursed to support developmental projects in the sectors.

Mubasher Contribution Time: 23-Oct-2016 16:43 (GMT)
Mubasher Last Update Time: 23-Oct-2016 16:43 (GMT)