Amman: The Housing Bank has signed a terms and conditions document with the National Carrier Project Company, under which it will arrange a syndicated loan worth up to $770 million to support the National Carrier Project. The document was signed by Housing Bank CEO Ammar Safadi and National Carrier Project Company General Manager Jad Hariba, in the presence of representatives from both sides.
According to Jordan News Agency, this agreement enables the National Carrier Project Company established by global infrastructure and water project leaders Meridiam and Suez, to advance the implementation of the National Carrier Project. The syndicated loan will finance a major portion of the project, which involves the construction of a desalination plant for Red Sea water and a network of transmission lines, pipelines, and pumping stations extending from Aqaba to Amman. The project aims to supply approximately 300 million cubic meters of potable water annually to the two cities, benefiting around four million people.
Safadi underscored Housing Bank’s role in leading the banking consortium, emphasizing the bank’s financial strength and its prominent position in Jordan’s banking sector. He expressed pride in participating in this strategic initiative, which represents a sustainable solution to the Kingdom’s longstanding water security challenges. He also highlighted the bank’s extensive experience in managing large-scale financing deals, reaffirming its capability to provide integrated financial solutions that drive national development.
Hariba, in turn, commended the Housing Bank’s leadership in supporting national projects and expressed optimism about the syndicated loan arrangement, which will facilitate the project’s implementation and mark a significant advancement in Jordan’s infrastructure and water sectors. This financing model reflects the commitment of the banking sector to supporting national projects and promoting sustainable development in the Kingdom.