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Article: EC lends to finance highway upgrade. (includes other news briefs) (Jordan)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- January 15, 1993
CopyrightCOPYRIGHT 1993 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Luxembourg-based European Investment Bank (EIB) has approved a ECU 15 million ($18.7 million) loan for the rehabilitation of a 71-kilometre section of the road from Amman to Aqaba, known as the desert highway. The government has also applied to the World Bank to co-finance the ECU 42.5 million ($53 million) project, and it hopes to begin work in April for completion by the end of 1996.
The stretch of road to be upgraded is at the southern end of the highway, between Ras el-Naqb and Wadi Yutm. This is a mountainous area where the road is in a very poor condition, and it is currently a bottleneck for traffic between the Red Sea port and the capital. Work will ...