Kuwait loans Jordan $50 million

Jordan's Ministry of Planning and International Cooperation and the Kuwait Fund for Arab Economic Development will sign an agreement next week worth $50 million to fund the steam-generating unit project for an electric power plant. The funding will be in the form of a soft loan from the Fund, the Ministry said in a press release. Jordan's government had agreed earlier with a number of Arab funds on soft loans for the steam-generating unit at the Samra Electric Power Generating Plant worth $191 million. The Kuwait Fund for Arab Economic Development has provided Jordan with the equivalent of $524 million in the period between 1962-2010.