Qatar commits $1.25B for Gulf Development Fund – report

Qatar flag. The country has agreed to contribute $1.25 billion to the Gulf Development Fund. Photo by: Xavier Bouchevreau / CC BY-NC-ND

Qatar is ready to fund development projects in Jordan and Morocco, two countries that will benefit from a fund created by the Gulf Cooperation Council during its December 2011 summit.

The Gulf Development Fund will have $5 billion, of which Qatar will reportedly shoulder $1.25 billion. Morocco and Jordan, whose membership requests are being considered by GCC, will each get $2.5 billion.

Jaafar Hassan, the Jordanian planning and international cooperation minister, told local media that a gas storage terminal scheme in his country is one of the projects Qatar is keen to support. He disclosed that senior GCC officials are meeting this month to agree on an action plan for financing projects in Jordan.

Read more  development aid news online, and subscribe to The Development Newswire to receive top international development headlines from the world’s leading donors, news sources and opinion leaders — emailed to you FREE every business day.

About the author

  • Eliza Villarino

    Eliza Villarino currently manages one of today’s leading publications on humanitarian aid, global health and international development, the weekly GDB. At Devex, she has helped grow a global newsroom, with talented journalists from major development hubs such as Washington, D.C, London and Brussels. She regularly writes about innovations in global development.

Join the Discussion