$1.25 bln Qatari grant for Jordan

Jordan and Qatar on Wednesday signed a memorandum of understanding on a $1.25 billion Qatari grant for Jordan endorsed by the Gulf Cooperation Council (GCC) last year. During a GCC summit in December 2011, Saudi Arabia, the United Arab Emirates, Kuwait and Qatar decided to extend $5 billion over a five-year period to support development projects in Jordan, with each state paying $1.25 billion. The memorandum of understanding was signed by Finance Minister Suleiman Al Hafez and Qatari Minister of Economy and Finance Yousef Hussain Kamal. Al Hafez stressed the strong Jordanian- Qatari ties, affirming Jordan’s keenness to enhance relations with GCC states. He added that the strong ties between Jordan and Qatar are developing progressively thanks to His Majesty King Abdullah II and the Emir of Qatar Sheikh Hamad Bin Khalifah Al Thani. The Qatari minister stressed his country’s determination to boost relations with Jordan. The grant will contribute to supporting Jordan’s infrastructure as well as the investment climate in the kingdom, the Qatari minister said, adding that the grant would encourage the private sector, at the local, Arab and international levels, to launch projects in Jordan.