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AFESD funds transport, cancer and charity projects

By JT - Mar 21,2017 - Last updated at Mar 21,2017

AMMAN — Planning and International Cooperation Minister Imad Fakhoury on Monday met with the director general and chairman of the Arab Fund for Economic and Social Development (AFESD), Abdullatif Youssef Al Hamad, to discuss cooperation between Jordan and the fund.

Fakhoury announced the AFESD’s preliminary funding approval of Irbid’s ring road through a $49 million concessional loan, as well as funding of $47.5 million for Salt’s ring road. The projects aim to improve road transportation in the governorates and neighbouring regions, according to a Planning Ministry statement. 

The AFESD also announced the funding of a CT scanner for the King Hussein Cancer Centre (KHCC) through a grant worth $981,000, as well as a plan to expand the facilities of the Jordan Hashemite Charity Organisation (JHCO) in Ghabawi, at an estimated cost of $655,000, according to the ministry.

Fakhoury outlined the current economic and financial situation in Jordan as a result of the political and security instability in the region, in addition to the repercussions of the Syrian crisis, which have placed a heavy burden on the Kingdom. 

The minister also noted the strain put on the country’s finances and the impact on the quality of services provided to both refugees and host communities. 

Fakhoury stressed that Jordan had reached its maximum limits in shouldering burdens generated by regional crises, stressing that a lack of international commitment to supporting the Kingdom would inevitably affect government services provided to refugees and residents.

The planning minister highlighted the AFESD’s role in aiding Jordan to overcome such challenges.

For his part, Hamad commended the Jordanian government’s efforts in dealing with economic issues, especially those related to refugees and reforming plans, stressing the fund’s commitment to stand by the Kingdom in its development efforts.

The fund has contributed to funding 47 economic and social priority development projects in Jordan between 1975 and 2016, at a total value of $1,914 billion.

 

During the same period, AFESD also provided $35 million in grants and $80 million in soft loans to fund small-and-medium sized enterprises.

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