Saudi, Jordan sign deal on $3bn in Jordan investments

Planned projects include reconstruction and rehabilitation of a north-south highway in Jordan and a power plant on Jordan's eastern border
Saudi, Jordan sign deal on $3bn in Jordan investments
King Abdullah II of Jordan (R) welcomes King Salman bin Abdulaziz Al Saud of Saudi Arabia (L) upon his arrival at Marka military airport in Amman, Jordan. (Jordanian Royal Court via Getty Images)
By AP
Tue 28 Mar 2017 11:42 AM

Jordan's state media say public and private sector officials from Saudi Arabia and Jordan have signed 15 economic agreements, including establishing a joint fund that will launch an estimated $3 billion worth of investments in Jordan.

The Petra news agency says the agreements were signed after a meeting late Monday between Saudi King Salman and Jordan's King Abdullah II.

Planned projects include reconstruction and rehabilitation of a north-south highway in Jordan and setting up a power plant on Jordan's eastern border.

Saudi Arabia has been one of Jordan's main financial backers. Jordan has faced an economic downturn, with sluggish growth, rising public debt and high unemployment.

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.