Ministry of Plannin ng & Internaational Cooperation
Th he GCC Graant In the (32) ( session held duringg Decemberr of 2011, the Supreme e Council of the Arab Gulf G States Cooperatio on Council (G GCC) made th he decision tto allocate aa grant at a total value off (5) billion U USD to fund developmeent projects in the Hasheemite Kingdo om of Jordan n over a five e‐year period d. This grant is provided jointly by ((The Kingdom of Saudi Arabia, the United Arab b Emirates, Kuwait, & Qatar); Q providing (1.25) billion USD D each.
2) session held during December of o 2011, thee Supreme Council of the Arab Gulf G States In the (32 Cooperatio on Council (G GCC) made th he decision tto allocate aa grant at a total value off (5) billion U USD to fund developmeent projects in the Hasheemite Kingdo om of Jordan n over a five e‐year period d. This grant is provided jointly by ((The Kingdom of Saudi Arabia, the United Arab b Emirates, Kuwait, & Qatar); Q providing (1.25) billion USD D each.
deavors werre set betweeen the Minisstry of Plann ning and Inteernational Cooperation, Broad coorrdinative end the Ministry of Financce, and the General Bud dget Departm ment with a a view to se elect the pro ojects to be submitted for funding. In this conttext, on 15/8 8/2012 projeects proposeed for fundin ng covering tthe value of the grant w were presen nted for the esteemed Council C of th he Prime Ministry, whicch in turn haad given its approval to o proceed wiith funding p procedures.
ed in two gro oups as follo ows: The projects proposed for funding are classifie Capital projeccts listed under the geneeral budget law of 2012; at a cost off (3175) milllion Dollars; Group 1: C constituting (63.5%) of o the total GCC grant. Funding such projects may contrib bute into reeducing the budget deficit and the financial burdens facced by the ggovernmentt of Jordan. This will also support implementtation ongoin ng developm mental projeccts within all sectors, wh hich would e enable all ministries and corporation ns to deliverr the servicess required th hereby efficieently and efffectively. Group 2: This T group includes new w projects liisted under the Executivve Developm mental Projeect (2011 – 2013) valu ued at (1825 5) million Do ollars and constituting (36.5%) of the t total GC CC grant. Fu unding such projects may assist thee efforts to address the national isssues within tthe priority ssectors such h as energy, water, and d local deve elopment. Th his will enab ble the goveernment of Jordan to counter c the challenges pertaining to the increeasing cost of imported d energy , improve watter supply to o all govern norates and achieving d developmental balance among the Kingdom's governorates g s, especially in the leastt developed ones. This w would also h help reduce tthe level of u unemploymeent through creating new w job opporttunities and improving tthe relevancce of the edu ucational systtem outcomes with the n needs of the e labor markeet.
The Projects' Funding Mechanism of the GCC Grant:
- All donors were furnished with the list of proposed projects, of which the total cost is estimated at (5) billion USD, and which the Council of Ministers has approved to be submitted for funding from the GCC grant.
- Donors had informed GOJ that the GCC grant would be managed through their own financing funds. Based on that the Kuwaiti grant shall be managed by the Kuwaiti fund for Arab Economic Development, the Saudi grant shall be managed by the Saudi Development Fund, and the UAE grant shall be managed by Abu Dhabi development fund, while coordination with the Qatari ministry of finance & ministry of planning in respect of their grant is underway.