|Jordan Times - Petra
Apr. 22/ 2012 - AMMAN — Arab funds agreed last week to extend $191 million in soft loans to Jordan to finance the construction of a new steam generation unit at Al Samra Power Generating Company, according to Planning and International Cooperation Minister Jafar Hassan.
The agreement was reached on the sidelines of the annual meeting of the Governors of the Arab Fund for Economic and Social Development (AFESD) which was held in Marrakesh.
Hassan said the agreement followed his meetings with representatives of AFESD, the Saudi Fund for Development and the Kuwait Fund for Arab Economic Development.
Out of $191 million, the AFESD will contribute around $107 million, the Saudis around 42 million, and the Kuwaitis will provide around the same amount, Hassan indicated.
The unit will generate around 150 megawatts of electricity without having the need to utilise gas or fuel which will save Jordan around $50 million annually. |