ADFD’s investments for development projects in Jordan rose to $1.76bn

By Arya M Nair, Official Reporter
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Abu Dhabi Fund for Development (ADFD) has financed development projects worth nearly $1.76 billion in Jordan since 1974.

These projects collectively improved the standard of living in Jordan and helped the government to fulfill its sustainable development objectives.

Jordan’s GDP has risen by 6.5 percent, with investment contributing about 13 percent to it. The GCC grant to Jordan in 2013 amounted to $5 billion, of which the UAE’s contribution was $1.25 billion.

ADFD managed the UAE’s grant to Jordan by directly overseeing the strategic projects that had a significant impact on the country’s economy. The UAE has also helped raise foreign exchange reserves by depositing the entire grant with the Central Bank of Jordan (CBJ), thus improving the efficiency of the country’s financial system.

Mohammed Saif Al Suwaidi
Mohammed Saif Al Suwaidi
Director General – ADFD

“The relations between the UAE and Jordan exemplify an ideal bilateral partnership, which benefited both countries. By financing many development projects, the UAE and ADFD remained genuine supporters of the advancement of Jordan’s economy and society. The benefits of the projects funded by ADFD in Jordan are reflected in the phenomenal improvement and diversification of infrastructure including education, transport, energy, housing and agriculture. All this resulted in the improvement of the quality of life in the country.”

ADFD looks forward to consistent socioeconomic cooperation with Jordan to enable it to overcome any challenges in the way of accomplishing its developmental goals.

Trade between the UAE and Jordan has steadily risen over the past 10 years from $517 million in 2010 to $1.87 billion in 2017, before registering a quantum leap in 2018 to$2.55 billion. In 2019, the trade volume stood at an all-time high of $2.83 billion.

The UAE’s direct investment in Jordan amounts to about $17.04 billion, while Jordan’s investment in the UAE is about $1.22 billion. Jordanian companies and brands are concentrated in several sectors, including financial and insurance, manufacturing, industry, real estate, construction, retail and trade.

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