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    JD2.27bln utilized from 2012 Arab Gulf grant

    October 26, 2020
    finance & economy

    Amman, Oct. 25 (Petra) -- Jordan has utilized a total of JD2.279 billion from a JD2.658-billion grant which three Arab Gulf countries pledged to the Kingdom in 2012, according to data by the Ministry of Planning and International Cooperation.

    The value of grants signed under the tranche stood at JD2.631 billion until June this year. The funding is provided by Saudi Arabia, the United Arab Emirates, and Kuwait according to the following breakdown: JD886 million from the Saudi Fund for Development; JD886 million from the Kuwait Fund for Arab Economic Development, and JD859 million from the Abu Dhabi Fund for Development.

    In response to inquiries by the Jordan News Agency (Petra), the ministry said Sunday that withdrawals from the grant are made after the Jordanian government issue project claims and after all the payment back-up documents are sent to the contractor or vendor.

    It further explained that the government does not receive the funding beforehand but carries out the projects and the payments from the grant are made later.

    The ministry noted that an amount of JD27 million is left from the UAE's share of the grant, indicating that the Abu Dhabi Fund for Development had asked to keep the amount in reserve until all projects are completed.

    With regard to the sectors covered by the grant, the ministry said they include road construction (JD624 million); healthcare (JD481 million); energy (JD415 million); local development (JD376 million); water and sanitation (JD216 million); higher education (JD196 million); education (JD141 million); investments (JD98 million); transport (JD44 million); and ICT (JD35 million).

    The ministry indicated that the number of projects that have been completed reached 58 projects, while the number of projects that are still under implementation stood at 15, and one project is under study.

    petra

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