Kuwait allocates $250 for Jordan annually over a 5-year period

Jordan and Kuwaiti initialed an agreement on Thursday on Kuwait’s contribution to the Gulf Cooperation Council’s (GCC) fund to Jordan. Under the agreement, Kuwait will allocate $250 million for Jordan annually over the next five years. The agreement was signed by Secretary General of the Ministry of Planning and International Cooperation Saleh Kharabsheh and the Kuwaiti Ambassador to Jordan Hamad Al Duaij in the presence of a delegation from the Kuwait Fund for Arab Economic Development (KFAED) Tareq Al Munayes. Under the agreement $150 million will be allocated to support renewable energy projects and another $150 million for supporting governorates development programs over the a PERIOD OF 5 YEARS. Karabsheh voiced Jordan’s appreciation to the Kuwaiti government and people for this contribution and for aid that has been provided to the Kingdom over the past years, adding the Kuwaiti aid helped Jordan to achieve development in various fields. The Gulf fund was allocated by the Gulf Cooperation Council (GCC) during last year’s summit to support development projects in the Kingdom. Saudi Arabia, the UAE, Kuwait and Qatar decided to extend $5 billion over a five-year period to support development schemes in Jordan. Each GCC nation will pay $1.25 billion.