Amman, Feb 15 (Petra)- Minister of Finance Abdelhakim Shibli and Director-General of the National Electric Power Company (NEPCO) Sufyan Bataineh on Sunday signed a financing agreement with the Arab Fund for Economic and Social Development (AFESD) Director-General and Chairman of the Board, Fawzi Al-Hunaif on the AFESD’s contribution to supporting the electrical supply component of Jordan’s National Water Carrier Project, with a value of 58 million Kuwaiti dinars (equivalent to around $189 million).

The agreement was signed during a meeting between Minister of Planning and International Cooperation Zeina Toukan and Al-Hunaif and his accompanying delegation.

The meeting was attended by Minister of Energy and Mineral Resources Saleh Kharabsheh.

Toukan expressed her appreciation for the strong partnership with the Arab Fund, noting that this agreement falls within the framework of the Country Partnership Strategy between Jordan and the Fund for 2025–2029, to support development priorities in energy, water, and economic and social development.

She noted that the new financing would provide a secure and stable electricity supply for the facilities of the National Water Carrier Project while enhancing the capacity of the national grid to absorb more electrical energy, including renewable energy. For his part, Al-Hunaif expressed pride in the Fund’s longstanding relationship with Jordan, describing the Kingdom as a key development partner in the region.

He emphasized the Fund’s readiness to support the Jordanian government’s development efforts within the framework of the Country Partnership Strategy for the years 2025–2029.

//Petra// AF