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FINANCIAL NEWS
US to provide Jordan with USD17m wheat grant
23 Sep 2012
(MENAFN) Jordan’s Ministry of Planning and International Cooperation announced that the Kingdom has inked a USD17 million wheat grant agreement with the US, reported Jordan Times.
The ministry said that under the terms of the deal, which is part of the US Food for Progress program, the US will supply Jordan with 50,000 tons of wheat.
It added that around USD10.56 million of the grant will be used to set up the Karak Dam, which will have a capacity to hold 1.9-million-cubic-metre of water.
Moreover, the dam will benefit 5,000 families, boost yields on nearly 5,600 dunums of farmland and generate an extra USD1.4 million annually for the economy.
It is worth noting that the remaining portion of the US grant will be used to pay for the transportation, discharge and handling of the wheat.
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