AMMAN — Planning and International Cooperation Minister Imad Fakhoury on Tuesday signed a soft loan agreement worth $46.27 million, provided by the Arab Fund for Economic and Social Development, a ministry statement said.
The agreement, which will contribute to financing the Salt Ring Road (Eastern Section), was signed by Abdul Latif Al Hamad, chairman and managing director of the fund.
During the signing ceremony, Fakhoury expressed appreciation for the fund’s “continuous support” to the government’s development efforts as it faces economic and social challenges, in light of the regional circumstances.
The Arab Fund has played an “important role” in supporting Jordan in fulfilling the needs of refugees, as well as the host communities, the minister said.
Fakhoury noted that the project aims to improve land transport services in the city of Salt and the surrounding areas, to absorb and divert part of the increasing traffic in the city centre and reduce traffic accidents and congestion, the statement said.
The project includes the construction of a 22 km-ring-road around the city of Salt, 35km northwest of Amman, allowing transit traffic to pass by the city without entering it.
The project is due to include the construction of the road, a number of intersections, bridges, tunnels, water drainage, road safety, lighting and other necessary supplementary works. Project elements also include the provision of consultancy services to carry out the work, the minister said.
For his part, Hamad praised the Jordanian government’s efforts to overcome the economic and financial challenges it faces, especially in light of the influx of Syrian refugees, as well as the various reform programmes being implemented to adapt the economy to these challenges, according to the statement.
The fund has financed the implementation of several priority development projects in the Kingdom including the financing of 48 projects of economic and social priority during the period 1975-2017, amounting to $ 1,983 billion, the statement said.
© Jordan Times 2017
