Jordan to receive $179m in aid

The Jordanian Ministry of Planning and International Cooperation and the Saudi Fund for Development on Thursday signed three agreements on financial aid amounting to USD 179.4 million. The funds are part of the Saudi contribution to a USD five billion aid fund launched by the Gulf Cooperation Council (GCC) to support Jordan, the ministry said in a statement on Friday. The agreements were signed by Minister of Planning and International Cooperation Ja'far Hassan and Vice Chairman of the Saudi Fund for Development Youssof Bin Ibrahim Al-Bassam, the statement added. The GCC summit, held in December, 2011, decided that Saudi Arabia, the UAE, Kuwait and Qatar will contribute a total of USD 5 billion over five year period, at an annual rate of USD 1.25 billion, to the Jordanian development projects, with each state contributing USD 1.25 billion.