European Commission adopts 500 million plan to help Jordan

Brussels – The European Commission adopted today (April 8) a proposal for a new €500 million loan to Jordan. The money would go to the Amman government in the form of long-term loans with favorable conditions conditional on the implementation of specific policy measures. With this new loan, the EU wants to help Jordan in its modernization process while also trying to stabilize the country, given the complicated geopolitical situation in the area. It is now up to Parliament and the Council to give the green light for the financing.

It is not the first funding the EU has granted Jordan: Starting from 2011, Amman has already received more than €4 billion from the EU. The new funds will go towards supporting the ambitious reform program, promoting employment and investment growth. The funding is part of the MFA — the macro-financial assistance — that the EU grants to neighboring countries (geographically and politically) experiencing a balance of payments crisis.

“We will help ensure that Jordan’s transformative reforms for jobs, growth and investment can continue,” said EU Commission President Ursula von der Leyen.  Josep Borrell, High Representative of the Union for Foreign Affairs and Security Policy, stressed the usefulness of the financing plan: “It reflects the crucial importance of our relationship with Jordan, a major partner and a key actor in the Middle East.”