The Kuwaiti Fund for Arab Economic Development on Thursday inked a loan agreement and a grant accord to support Jordan with KD 24.2 million (USD 80) to contribute to funding the project, “Sabah Al-Ahmad port for liquefied natural gas,” and aid Syrian refugees.

KFAED’s Director General Marwan Al-Ghanim said in remarks to KUNA the port venture would be financed with KD 18.2 million (USD 60 million), indicated that the loan accord stipulated re-paving the harbor pier, building a terminal for processing liquefied gas and turn it into gas at Aqaba Port.

Moreover, there is a plan to link up the terminal with a gas pipeline to power stations.

As to the grant pact, Al-Ghanim said it is worth KD six million (USD 20 million) and aims to complete the project for overhauling old buildings ad constructing new units At-Bashir Hospital, the planned King Abdullah Hospital and securing needs for the Syrian refugees in the kingdom.

KFAED has previously presented three grants, on behalf of the State of Kuwait, to Jordan to relieve the refugees.

The grant has been allocated in line with the State of Kuwait’s commitments, proclaimed at the third Brussels conference for supporting Syria’s future and the region — held in 2012 — with a total a pledged sum amounting to USD 300 million. Kuwait’s share in the declare promised sum amounted to USD 127.5 million.

Source: Kuwait News Agency