The emirate of Abu Dhabi has committed to investing about $70 million towards a project that would extend Jordan's domestic gas network in important industrial areas.
According to the official Jordanian news agency Petra, the money is a portion of a $400 million loan that the Abu Dhabi Development Fund (ADFD) will give to Jordan.
According to the report, the agreement, which was reached this week, included $75 million to assist Jordan's budget in addition to sponsoring various other development initiatives in the country, such as building schools, reclaiming land, and the Health Ministry's $100 million digitalization project.
The development of a waste-to-energy plant and a cargo project at the Port of Aqaba in Southern Jordan were the subjects of a separate agreement. Utilising its enormous proved resources of 101 billion barrels of crude oil and over 63 trillion cubic feet of gas, it has been ensnared in a vast effort to increase its production of both oil and gas.