Jordan Times
Sunday, March 28, 2004
Premier, AFSED chairman review assistance
AMMAN (Petra) — Prime Minister Faisal Fayez on Saturday voiced Jordan's appreciation of the Kuwait-based Arab Fund for Social and Economic Development for its contribution towards the Kingdom's development and the implementation of water, electricity and educational projects.
Speaking at a meeting with Abdul Latif Al Hamad, the fund's chairman, Fayez also thanked the fund for its recent grant to expand the services of Al Hussein Cancer Centre.
At the meeting, also attended by Minister of Planning and International Development Bassem Awadallah, Hamad said the fund was ready to support the government's endeavours to reform and modernise the educational and financial sectors, among other development projects.
Earlier on Saturday, Hamad and Awadallah signed a $40 million loan agreement to finance the first phase of a “development corridor” to be built in the capital.
The agreement provides for a road linking the airport highway with the Sahab-Muwaqqar road, a 18.5 kilometre stretch.
In remarks at the signing ceremony, Awadallah said the project aims at enabling the Kingdom ensure sustainable development around the areas of the highways, attract more investment in industrial businesses and also encourage urban development outside Amman.
Noting that the project would reduce the cost of transportation services between Amman and the governorates, Awadallah pointed out that the project will link local highways with roads connecting Jordan with neighbouring Arab states.
Next week in Washington, Ministry of Public Works Secretary General Abdul Majid Kabariti will negotiate a draft agreement on a $38 million loan to finance the second phase of the “development corridor” with the World Bank.
The second phase entails the construction of infrastructure services, and a four-lane, 41-kilometre highway extending around the Kingdom's main cities to reduce pressure on existing roads.
The $112 million project is financed by the Arab Fund, the European Investment Bank as well as the World Bank.