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GCC fund to attract $12bn in investments, says Jordan’s planning minister

The Jordanian minister of planning, Jafar Hassan has said the GCC's $5bn fund for Jordan is expected to mobilise $12bn worth of foreign investment in the water, energy and transportation sectors, Jordan Times has reported. The kingdom's economy, which relies immensely on foreign investments, tourism, trade and remittances, saw slow growth levels in the past two years, Hassan noted. The economy grew by 3% in the first quarter of 2012, compared with an average of 6% registered in the previous 10 years, he said.