Donor states finance feasibility study of Jordan Red Sea - Dead Sea canal

The World Bank announced yesterday in Paris that Jordan, Israel and the Palestinian Authority received the consent of the donor states to finance the feasibility study of a huge project to finance a canal linking the Red Sea to the Dead Sea.

The World Bank explained in a statement issued following two day meetings that the "meeting held under the auspices of the World Bank launched an operation to collect resources in order to implement a feasibility study and to study the environmental and social results of water transfer between the Red Sea and the Dead Sea."

The world Bank continued that "this study will analyse the feasibility of transporting waters from the Red Sea to the Dead Sea so as to solve the problem of Dead Sea water level decrease at a rate of one meter per year," noting that it "intends to establish and run a fund to be supported by several donor sides to contribute to making this study." The study will take 24 months and will be at a total cost of $ 15.5 million to be financed by Japan, the USA and European states including France, Italy, Norway and Sweden.

The Bank explained that France has confirmed alone, for the meantime its participation in financing the project at a rate of 3 million Euros. The source added that the other states approved participation in financing but they have to confirm the size of their participation before the end of the current Summer.