Cabinet endorses memos to be signed with Egypt, US

AMMAN — The Cabinet on Sunday endorsed the mandating reasons for the renewable energy and rationalising energy consumption fund to be referred to the Legislation and Opinion Bureau.

The projected fund will aim to finance utility-scale renewable energy projects and promote standards for reducing energy consumption.

The Cabinet also approved a memorandum of understanding to be signed with Egypt on the peaceful use of atomic energy.

Under the memo, the two countries will cooperate in exploring and exploiting nuclear substances and uranium, in addition to using nuclear energy to generate electricity and desalinate water.

Meanwhile, the Council of Ministers approved a memorandum of understanding to be signed soon with the US, under which Washington will provide Amman with $1 billion a year in assistance during the period between 2015 and 2017.