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Gulf investments in Jordan hit $40 billion

Grant provided to kingdom 3 years ago contributed to “quantum leap in infrastructure and basic services”

The volume of GCC investments in Jordan until the end of last year reached $40 billion, distributed over production, services and industrial sectors, says Jordan’s Prime Minister, Dr Abdullah Ensour.

Dr Ensour points out that these investments have played, and will continue to play, a crucial role in supporting the national economy of Jordan, reports London-based Al-Hayat.

He adds that the volume of trade between the GCC countries and the kingdom amounted to roughly $5.7bn in 2014, adding that expatriate Jordanians working in the Gulf contribute close to $3bn annually to the national economy.

He points out that the Gulf grant provided to the kingdom three years ago contributed to a quantum leap in infrastructure and basic services, explaining that this grant came at a time when Jordan was facing many challenges posed by conditions in the Arab region, especially the Syrian and Iraqi crises, which led to the kingdom hosting nearly 1.4 million Syrian refugees in addition to more than 400,000 Iraqis.

($1 = AED3.67, at the time of publishing)