News Column

PM, regional fund chief discuss loans for development projects

May 13, 2014

Amman, May 11 (Petra) Â"Â" Prime Minister Abdullah Ensour on Sunday discussed with Abdul Latif al-Hamad, Director General of the Arab Fund for Economic and Social Development (AFESD), prospects of the Fund financing certain Jordanian projects of priority.

During the meeting, attended by Minister of Planning and International Cooperation Ibrahim Saif, Ensour said Jordan considered the AFESD, a Kuwait-based pan-Arab development finance institution, as a key partner and praised its support to the Kingdom's developmental efforts.

The discussion tackled the possibility for the Fund to provide loans to Jordan to bankroll small- and medium-sized enterprises and other ventures for development of governorates, industrial zones and to enhance the capacity building of the Jordanian manpower.

The prime minister also spoke about economic challenges and pressures the Syrian crisis had placed on Jordan's limited resources, referring to the ongoing influx of Syrian refugees into the country.

Saif said the international community had not lived up to its obligations to support Jordan to cope with the ramifications of the Syrian crisis and the exodus of refugees. He said a recent study by the International Monetary Fund revealed that world contributions had covered no more than 20 percent of the burden of hosting the displaced Syrians. He noted the Kuwaiti aid to the Kingdom in that respect.

Al Hamad said the AFESD is interested in increasing cooperation with Jordan and providing funding for priority economic ventures to prop up the Kingdom's development plans.


11/5/2014 - 06:57:31 PM

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Source: Jordan News Agency