Italian financing pact essential in Jordan's national water carrier

2025-05-19 07:08:08

(MENAFN) Minister of Water and Irrigation Raed Abu Saud emphasized on 14th of May that the tactical significance of a freshly consented financing deal with the Italian government, through the Italian Development Bank, for Jordan's national water carrier initiative. The Cabinet's rule previously today obtained a 56,241,500 dollars’ soft loan (which is s loan with a below-market rate of interest). In addition to giving 2,249,900 dollars for the crucial program.

Minister Abu Saud classified the deal as an important breakthrough in strengthening international backing for this vital national foundation effort. He straight away tied this accomplishment to the thriving diplomatic proposals conducted by His Majesty King Abdullah II in his latest involvement with the European Union.

Minister Abu Saud confirmed that "the Cabinet's endorsement of this agreement is a tangible manifestation of the fruitful outcomes of His Majesty's dedicated efforts to forge international partnerships in support of this project."

He emphasized that in alignment with Royal directives, obtaining the required resources in financing stays a principal goal for the government, this new funding will speed up the initiative execution agenda.

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