Jordan taps $5 bln Gulf fund to ease economic woes

Jordan has begun to tap $5 billion in grants from oil-rich Gulf states, hoping infrastructure spending will help alleviate the economic impact of the wave of Arab political unrest.

Planning and International Cooperation Minister Jafar Hassan said more than $100 million had so far been spent from the fund, whose creation was decided by a summit of the Gulf Co-operation Council (GCC) in December 2011 to help its regional ally.

"We have actually started using funds for projects," said Hassan, a key economic decision-maker whose ministry has spearheaded efforts to utilise the grant from the country's wealthy neighbours.

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