Saudi to set up $3bn joint investment fund for Jordan

Saudi Arabia is to set up a $3 billion joint investment fund for Jordan, among 15 co-operation agreements signed by King Salman during a visit to Amman, AFP reported Tuesday (March 28th).

Other agreements include measures to boost power generation, tackle worsening water shortages, and improve housing and health services, Jordan's official Petra news agency said.

It said the accords covered uranium mining and water desalination projects, and that a memorandum was signed to build a $70 million solar power station on Jordan's eastern border.

The agreements, worth a total of $3.5 billion, were signed on Monday evening shortly after Salman's arrival for an Arab summit later this week.

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