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    World Bank pledges $400mln fund for Jordan's national water carrier

    October 17, 2022
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    Amman, Oct 16 (Petra) -- Planning and International Cooperation Minister Nasser Shraideh Sunday said World Bank's International Finance Corporation (IFC) pledged a $400 investment loan to fund the National Water Carrier Project (Aqaba-Amman Water Desalination and Transmission).

    According to a Ministry of Planning statement, the pledge is part of wider pledges from countries and development partners announced last March with a value of more than $1.8 billion in development and investment grants and loans to support the National Water Carrier Project.

    Shraideh and the Managing Director and Executive Vice President of the IFC, Makhtar Diop, in Washington D.C., discussed the IFC's plans to increase its investments and support for Jordan's private sector to create job opportunities and achieve development.

    Shraideh briefed Diop on the new investment law in Jordan that would streamline administrative measures, noting that the law guarantees legislative stability that would protect the rights of investors and offer economic incentives.

    During a separate meeting with the President of the World Bank, David Malpass, to discuss unemployment challenges, climate change and water and energy, Shraideh urged the World Bank to increase its support for member states of the Arab League and the region.

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