Saturday , February 25 2017

ADFD’s AED320 million grant to boost Jordan’s infrastructure development

 

Abu Dhabi / WAM

Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for
Development (ADFD), attended the official opening of the Amman Development Road. The road network connects the capital with the surrounding cities, easing the movement of passengers and goods between Jordan and the countries of the GCC region.
In line with the framework of the 2013 UAE government grant to the Gulf Development Fund valued at AED4.6 billion (US$1.25 billion), ADFD contributed AED320 million (US$87 million) – 50 percent of AED620 million (US$169 million) that is the total value of the project.
ADFD also attended the official opening of the Kufranjah Dam – a development project funded by the UAE government and managed by ADFD in the Kingdom of Jordan.
Located north of Jordan’s capital Amman, the newly completed AED103 million (US$28 million) project is in line with the framework of the 2013 UAE government contribution of AED4.6 billion (US$1.25 billion) to the Gulf Development Fund, a five-year grant program of the GCC member countries to finance development projects in Jordan. With a storage capacity of 7.8 million cubic meters of water, the Kufranjah Dam aims to augment the country’s irrigation and drinking water resources and further develop the fertile town of Ajloun.
Praising the new development, Mohammed Saif Al Suwaidi said: “the 48 km, Amman Development Road encourages sustainable urbanisation of cities close to the capital, and links travellers and truckers with international routes.”
He added: “One of many collaborations between the UAE and Jordan, this project is a clear demonstration of the strong historic ties our
two governments enjoy. ADFD remains committed to funding key economic sectors in Jordan – specifically to develop, modernize and
expand infrastructure.”
Since 1974, ADFD has successfully funded 31 development
projects in Jordan valued at approximately AED5.7 billion.

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