Saudi, Jordan sign deal on $3 billion in Jordan investments


Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

AMMAN, Jordan (AP) — Jordan's state media say public and private sector officials from Saudi Arabia and Jordan have signed 15 economic agreements, including establishing a joint fund that will launch an estimated $3 billion worth of investments in Jordan.

The Petra news agency says the agreements were signed after a meeting late Monday between Saudi King Salman and Jordan's King Abdullah II.

Planned projects include reconstruction and rehabilitation of a north-south highway in Jordan and setting up a power plant on Jordan's eastern border.

Saudi Arabia has been one of Jordan's main financial backers. Jordan has faced an economic downturn, with sluggish growth, rising public debt and high unemployment.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

Business
The Associated Press

    STAY IN THE KNOW

    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast