(MENAFN- Jordan News Agency)
Amman, Mar. 26 (Petra) -- Jordan withdrew JD2.41 billion of a JD2.63 billion a number of Gulf Cooperation Council member states pledged to the Kingdom in 2012. The figure indicates that the Kingdom reeled in about 91 percent of the promised funds by the end of 2022.
According to a Ministry of Planning and International Cooperation's report on the progress of projects funded by the GCC grant, the withdrawn funds were divided among several sources, with JD823.7 million coming from Saudi Arabia, JD886.2 million from Kuwait, and JD701.9 million from the United Arab Emirates.
The remaining amount of the grant now stands at JD216 million.
The GCC grant had JD619 million earmarked for road projects, JD415 million for the financing of energy projects, JD312.5 million for the health sector, and JD376.9 million for total financial support of local development projects.
Additionally, the funding allocated for water and irrigation projects, totaling JD213.5 million, and the grant for transportation sector projects, amounting to JD44.9 million, were both completely withdrawn. Meanwhile, JD180 million was channeled toward higher education, JD131.7 million for education, JD94 million for investments, and JD26.5 million for the communications sector.
The allocations for all funded projects included in the budget for the year 2022 amounted to about JD52.79 million, according to the report, while the financial amounts for which withdrawal requests were prepared to be compensated in 2022 totaled about JD32.6 million.
Jordan received a grant from the Gulf in 2012 valued at $5 billion, or the equivalent of JD3.5 billion, given over a five-year period for each nation. It was planned to go to the Kingdom's treasury through Saudi Arabia, the Emirates, Kuwait, and Qatar, with each nation contributing JD886 million.
According to the report, the grant helped implement ongoing development projects in numerous sectors, ease the financial strain on the government, and reduce the budget deficit, allowing all ministries and institutions to deliver the necessary services effectively and efficiently.
Due to the high cost of imported energy and the need to improve water supply across all governorates, the grant also allowed the government to carry out strategic projects that were part of the Executive Development Program (2011–2013) and contributed to fostering the growth of priority sectors such as energy, water, and local development.
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