AMMAN: Kuwait Fund for Arab Economic Development (KFAED) has completed a loan worth $38.3 million to help Jordan in its efforts to reform its education sector, the Kuwait-based institution said on Wednesday. The loan deal is part of a $500 million aid package Kuwait has pledged to deliver to the Hashemite Kingdom, the bulk of which is earmarked for Amman's health and education sectors KFAED chief Marwan Al-Ghanim said in a statement.
The agreement is the fourth such deal signed between the two sides, at a cumulative cost of $250 million, he added, describing the aid as an emblem of Kuwait's amicable relations with Jordan. Jordan's Planning Minister Nasser Shraideh valued the aid as a testament to long-standing bilateral ties, saying it would be instrumental in further developing his country's education sector given the expanding enrollment at schools nationwide. He went on to reiterate Amman's appreciation of Kuwait's support over the years, as the deal comes a day after Jordanian Crown Prince Hussein bin Abdullah II concluded a state visit to Kuwait in a bid to bolster bilateral cooperation. - KUNA