Saudi Arabia, Kuwait and the UAE seek to help Jordan stem its economic crisis
Saudi, Kuwait, UAE deposit over $1 bln in Jordan Central Bank
Jordanian government source says signing agreement will take place later on Thursday that announces breakdown of $2.5 billion aid package pledged last June to help Jordan implement austerity measures.
Thursday 04/10/2018
Saudi Arabia, Kuwait and the UAE seek to help Jordan stem its economic crisis
AMMAN - Saudi Arabia, Kuwait and the United Arab Emirates have placed over $1 billion in deposits at the Central Bank of Jordan and committed $500 million in budget support over five years as part of a $2.5 billion package to shore up the kingdom's struggling economy, a Jordanian government source said.
The source said a signing agreement will take place later on Thursday that announces the breakdown of a $2.5 billion aid package pledged last June to help the Jordan implement austerity measures which had sparked massive protests.
The package also includes $600 million in credit guarantees by the three Gulf countries that will help Jordan secure cheap World Bank credit and other financing for much needed infrastructure projects.