Jordan, KFAED sign $38.3m loan agreement to support education

AMMAN — Jordan and the Kuwait Fund for Arab Economic Development (KFAED) on Wednesday signed an agreement under which a $38.3-million loan will be extended to finance the Kingdom's public education infrastructure project, according to a Planning Ministry statement.

The agreement aims to support the Kingdom's economic and social development efforts, notably the provision of key requirements for educational buildings through the establishment of 12 schools in Amman, Madaba, Irbid, Jerash, Zarqa, Ajloun, Balqa and Karak.

The schools, comprising 12 to 36 classrooms from kindergarten through secondary stage, will help ensure a proper educational environment by providing additional seats to address overcrowding in schools amid the growing demand for public education. The agreement will also help reduce the rate of rented schools.

Minister of Planning and International Cooperation Nasser Shraideh, who signed the agreement with KFAED's Director General Marwan Al Ghanem, said that the agreement is part of Kuwait's contributions, made under the Mecca Summit pledges, to support the Kingdom’s economic and social development and meet the needs of Jordan's educational buildings.

Commending the Jordanian-Kuwaiti relations, Shraideh said that the two countries' cooperation and coordination have “set an example”, expressing the government's appreciation of Kuwait's ongoing support for Amman.

He also expressed keenness to advance cooperation with the KFAED, describing the fund as a key partner to the Kingdom.

Both sides also signed a memorandum of understanding to build a memorial in Amman to enhance the close historical ties between the countries.

Ghanem emphasised the deep-rooted mutual relations and lauded Jordan's efforts in addressing the economic and financial challenges.