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US approves funds for Jordan’s water desalination project
Jordan will receive US funding to build critical infrastructure, in particular its $6 billion national water desalination project that aims to ease acute water scarcity.
The US International Development Finance Corporation (DFC) approved more than $8 billion in new investments for Jordan, Africa and Ukraine.
The board of the development agency gave the green light to a loan to the National Carrier Project Company and political risk insurance for the equity investors, Meridiam and Suez, to advance the construction, operation and maintenance of a seawater desalination plant and conveyance system in Jordan, it said in a statement.
Jordan is one of the most water-scarce countries in the world, according to Unicef.
“Enabling Jordan’s long-term water security by expanding access to new water resources will support economic growth, expand regional connectivity and enhance stability for a key US ally,” a statement from DFC added.
No details were given on the loan amount.
In March, the US announced a $203 million grant for the project. The government signed the final technical and legal agreement for the desalination plant in April, paving the way for financial close.
Jordan’s cabinet approved $97 million in funding from the French Development Agency in July for its desalination project.
The plant will desalinate 300 million cubic metres of water annually and provide almost 40 percent of the country’s drinking water needs, the statement said.
The project is expected to begin operations in 2030.
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Source: AGBI