Published On:February 5 2015
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Jordan receives $176mn Saudi grant for healthcare projects.

Jordanian Government and the Saudi Fund for Development (SFD) signed five grant agreements worth USD 176 million aimed at promoting the Hashemite Kingdom's healthcare sector, reports Jordan News Agency, Petra.

The largest value deal, amounting to USD 70 million, seeks to establish and furnish Princess Basma Hospital, while USD 52 million has been set aside for the King Hussein Cancer Center expansion project.

The agreements also include establishing a USD 12 million X-ray center and implementing rehabilitation and maintenance works at the King Hussein Medical Center at a cost of USD 37 million. USD 6 million has been allocated for the construction of laboratories for the Jordan Food and Drug Administration, adds the report.

Furthermore, Saudi Arabia and Jordan have signed a memorandum to finance projects in various sectors at a total cost of USD 900 million, in addition to the soft loans the SFD already offers to Jordan.

The funding support is part of Saudi Arabia's contribution to the Gulf Cooperation Council (GCC) grant to the Kingdom, which was agreed upon in December 2011. Saudi Arabia, the UAE, Kuwait and Qatar had pledged USD 5 billion over a five-year period to support development projects in Jordan, with each state paying USD 1.25 billion.

Planning Minister Ibrahim Saif and SFD Deputy President Yousef Bassam signed the agreements on behalf of the Jordanian and Saudi governments.

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