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‘Upcoming megaprojects show global confidence in Kingdom’s gov’t, economy’

Razzaz says some int’l flights to resume this month under epidemiological constraints

By JT - Jul 05,2020 - Last updated at Jul 05,2020

Omar Razzaz

AMMAN — The world has a positive view of Jordan’s government and economy, as shown by upcoming megaprojects to be signed this week, Prime Minister and Minister of Defence Omar Razzaz said on Sunday.

In a video addressing the public, Razzaz pointed to the issuance of Eurobonds last week, which were oversubscribed more than six-fold. The interest that Jordan obtained for the five- and 10-year bonds was “the lowest” in comparison with the similar countries, with the exception of oil states, he said.

Razzaz revealed that the bonds, valued at $750 million, will be allocated to repay previous loans estimated at $1.25 billion. They will also be optimised to pump liquidity into the local market, as the government's dues have affected the economy.

The three megaprojects include a water loss prevention project addressing infrastructure, he said, noting that water loss in Amman and Zarqa, among other governorates, has reached 45 per cent.

The second project is the Marka Airport, he said, stressing the need for an airport equivalent to Queen Alia International Airport to serve safety, security and trade purposes, the Jordan News Agency, Petra, reported.

The third project, a fiber optic network, will reach “each and every Jordanian village and school”, he said, adding that it will reduce Internet costs, in addition to increasing network speed and capacity.

The premier said that the three projects, which show investors’ confidence in the Kingdom's economy, will be signed this week, Petra added  

Touching on the negative impact of COVID-19 on the tourism sector, Razzaz noted that the sector “has improved during the last two weeks”, thanks to internal tourism, notably in the southern region. A number of hotels have witnessed 100 per cent occupancy, he said, adding that over the coming weeks, the central and northern regions will be the focus of attention, in addition to tourist attractions.

Razzaz highlighted the importance of reopening the airport and resuming flights. These steps will be taken this month in a limited manner, allowing arrivals from countries whose epidemiological situation is not more dangerous than Jordan’s.

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