Jordan gets $30m loan from Kuwait for grid update
Tuesday, 24 March 2009
AMMAN, Mar 23 (Xinhua): Jordan got Sunday about 30 million U.S. dollars in loan from Kuwait to update the kingdom's grid, Jordan's National Electric Power Company (NEPCO) said in a statement.
The loan agreement was signed by NEPCO and the Kuwait Fund for Arab Economic Development (KFAED).
The project aims to finance the expansion of the East Amman Power Station and raise the national grid's capacity to serve power exchange purposes with neighboring countries, namely Egypt and Syria, according to the statement.
KFAED Director General Abdul Wahab Al Badr said following the signing ceremony that KFAED had maintained strong ties with Jordan.
The loan agreement was signed by NEPCO and the Kuwait Fund for Arab Economic Development (KFAED).
The project aims to finance the expansion of the East Amman Power Station and raise the national grid's capacity to serve power exchange purposes with neighboring countries, namely Egypt and Syria, according to the statement.
KFAED Director General Abdul Wahab Al Badr said following the signing ceremony that KFAED had maintained strong ties with Jordan.