€150 million in European funding for National Water Carrier Project

National Water Carrier Project
(Photo: Jordan News Agency, Petra)
AMMAN – Minister of Planning and International Cooperation, Zeina Toukan, signed an additional loan agreement of €100 million and an investment grant of €50 million with the European Investment Bank for the Water Carrier Project from Aqaba to Amman. اضافة اعلان

The signing took place on the sidelines of the COP28 conference on climate change in Dubai, attended by the Minister of Environment, Dr. Muawieh Al-Radaideh, according to Al-Mamlaka TV.

The Minister emphasized the project's importance for enhancing water security and achieving comprehensive economic development. She expressed gratitude to the European Investment Bank for providing the additional loan, which adds to the previous loan of €200 million signed on December 8, 2022, making the total financing from the bank €300 million.

Furthermore, the Minister thanked the European Union for securing the investment grant of €50 million euros, also signed with the European Investment Bank. This financing is part of the European aid package announced during King Abdullah II's visit to Brussels. The total package includes the additional loan for the Water Carrier Project and two investment grants totaling €97 million provided by the European Union.

The loan and grants are part of the European support to Jordan and were discussed during the COP28 conference. The Minister highlighted the significance of the partnership with the European Investment Bank and the European Union in supporting various priority sectors in Jordan, such as education, water, sanitation, transportation, energy, private sector development, and infrastructure.

During the meeting with the Deputy Vice President of the European Investment Bank in Dubai, the Minister discussed economic opportunities and priorities to determine future support areas. The discussions aimed at strengthening economic ties and cooperation between Jordan and the European Investment Bank, a key developmental partner.

This financing contributes to Jordan's efforts in addressing challenges and promoting sustainable development in vital sectors.

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