The Jordanian government inked a loan agreement with the Kuwait Fund for Arab Economic Development (KFAED) on Wednesday to finance a public education infrastructure project in the Kingdom for 11.6 million Kuwaiti dinars, or roughly $38.3 million.
The loan will finance the construction of 12 schools in Amman, Madaba, Irbid, Jerash, Zarqa, Ajloun, Balqa, and Karak. The number of classes at these schools, which will serve students from kindergarten to secondary school, ranges from 12 to 36 per school.
The project’s overarching purpose is to solve student overcrowding in schools as a result of population increase and rising demand for public education, as well as to reduce reliance on rented school facilities.
The agreement was signed by Minister of Planning and International Cooperation Nasser Shraideh and KFAED Director-General Marwan Al-Ghanim.
The agreement, according to the Minister of Planning, is part of the State of Kuwait’s contribution to pledges made at a 2018 Jordanian-GCC summit held in Saudi Arabia, with the goal of assisting Jordan’s economic and social development.
Shraideh commended Kuwait for its ongoing assistance to Jordan and stated that the Jordanian government looks forward to strengthening cooperation with the Fund, which is one of the Kingdom’s most important development partners.
Source: Jordan News Agency