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Hashemite Kingdom of Jordan

Infrastructure Development in the Petra Region

Loan No.:

630

Interest Rate:

3.0 %

Beneficiary:

Petra Development and Tourism Region Authority

Grace Period:

5 years

Project Cost:

KD 8.3 million

Maturity:

22 years

Amount of Loan:

KD 6.0 million

Repayment:

35 semi-annual installments

Date of Loan Agreement:

28/12/2015

First Installment:

5 years following the first disbursement

Date of Effectiveness:

-


Objectives:

The project aims at developing tourism activity in Jordan, improving infrastructure in the Petra region and the surrounding urban centers, and meeting the increasing demand for road traffic and relieving congestion within this region. This will be achieved through the construction of tourism and recreational facilities, in addition to the improvement and development of the internal road network in the project area and linking it to the main network.

Description:

The project, which is expected to be completed in the first quarter of 2018, includes the construction of tourism and recreational facilities, the development of the internal road network, and the provision of technical services. The following is a description of these components:

  1. Construction of Tourism and Recreational Facilities: This comprises the construction of a number of buildings in the center of Wadi-Musa city, including shops, parking and tourism facilities, and recreational spaces for visitors. The total area of the facilities is about 15,500 m2. These buildings will provide an area of approximately 2,000 m2 for the construction of shops, and the remaining area will be used to construct a carpark building with a capacity of 368 cars.
  2. Development of the Internal Road Network: This component comprises: (i) the construction of an interchange at the intersection of the Petra entrance and Ain-Musa (a bridge 160 m long, two 80 m long tunnels, and side roads with a total length of about 3.2 km), (ii) the rehabilitation of the back road of the city of Petra, linking the Petra protected area to the heritage village (about 1.8 km), and (iii) the construction of an arterial road as an alternative to the current road crossing Wadi-Musa city (about 1 km).
  3. Technical Services: This includes the provision of consultancy services required for the preparation of the project studies, and the supervision of its implementation.

Financing:

The Arab Fundís loan covers about 72% of the total project cost. The Jordanian Government will cover the remaining cost of the project and any additional cost that may arise.


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