In a significant boost to Jordan's economy, the Abu Dhabi Fund for Development has signed a series of agreements, amounting to more than $410 million, with Jordanian authorities. Led by Mohammed Saif Al Suwaidi, the fund's director general, during his visit to Amman, these agreements include $300 million to support Jordan's general budget and additional contracts worth $110 million for projects in energy and vocational education, as reported by WAM, the Emirates News Agency.
Jordan, heavily reliant on foreign aid and loans, will benefit from this direct financial support, enhancing its capability to implement developmental programs. The projects, notably in industrial gas and vocational schools, aim to develop infrastructure and local workforce skills, impacting industrial production costs and workforce readiness in sectors needing growth.
This partnership, which began in 1974, has witnessed the fund investing in various Jordanian projects, amounting to approximately $2.56 billion (about 9.4 billion AED) across multiple sectors, according to the statement.
Among the agreements, the fund also signed contracts to supply natural gas to the Roudah and Al-Muwaqar industrial cities, valued at $70 million, in collaboration with Jordanian energy authorities and contractors. The project is part of the economic modernization vision, intending to connect industrial zones to the natural gas pipeline to lower production costs and enhance the competitiveness of Jordan's industrial sector.
Additionally, a $40 million contract supports the design and construction of five vocational and technical schools with a total capacity of 2,325 students. Locations include Al-Qweismeh, with 600 students; Irbid-Zabadah-Farquh with 450; Jarash with 375; Mafraq-Rahab with 450; and North Shouneh with 450. These schools will specialize in engineering, agriculture, building, creative media, and tourism.
Mohammed Saif Al Suwaidi highlighted the unique cooperative model established between the UAE and Jordan, grounded in mutual trust and shared vision, representing a strong partnership.
Jordanian Planning and International Cooperation Minister Zeina Zaid Toukan praised the agreement as a testament to the strategic partnership between Jordan and the UAE, underscoring the fund's critical role in supporting Jordan's economic stability and development efforts.
Finance Minister Abdul Hakim Al Shubuli emphasized the budget support agreement as a pivotal step in collaborative endeavors, providing critical assistance to Jordan's fiscal stability and resource management.
Prime Minister Ja'far Abdul Fattah Hassan, during the fund delegation's reception, praised the deep-rooted fraternal ties between Jordan and the UAE and the fund's role in backing strategic projects within the kingdom.
The delegation's visit included meetings with Jordan's government leaders, covering project progress funded by the Abu Dhabi Fund and exploring new collaboration avenues.