AMMAN – Jordan and Saudi Arabia Thursday signed four agreements to finance development projects at a total of $299.4 million (around JD212.36 million), Jordan Times reported Friday.
At a GCC summit in December 2011, Saudi Arabia, the UAE, Kuwait and Qatar agreed to extend $5 billion over 5 year period to support development projects in Jordan with each state contributing $1.25 billion.
Under the agreements, $42.4 million will be used to finance economic development zones’ infrastructure, while $62 million will fund technical community colleges and university infrastructure development projects, the statement said, adding that a total of $75 million will be used to finance the establishment of Al Shiddiyeh Railway.
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