Arab Fund finances al-Wahda dam

The board of the Arab Fund for Economic and Social Development has agreed to finance al-Wahda dam at a cost of 35 million Kuwaiti dinars (82 million Jordanian dinars).

The Jordanian daily al-Rai al-Am said an agreement was signed between the Jordanian government and the Islamic Development Bank according to which the bank provided a loan of US $47 million to finance the establishment of al-Wahda dam.

It is, however, expected that the Abu Dhabi-based fund will provide US $10 million to contribute to financing the project while the remaining sum will be provided by the Jordanian treasury.