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23-02-12

Jordan awarded USD4b package from EU

(MENAFN) EU agreed to award Jordan a USD4 billion aid package over the next three years, of which USD1.5 billion will be available within the coming 12 months, local media reported. It was announced by the Vice President of the European Commission Catherine Ashton at the end of the Jordan-EU Task Force meeting held recently on the shores of the Dead Sea, Jordan times said. Ashton said the EU will give and additional USD92.65 million in line with the Principles of the Communication of March 2011, making USD39.7 million available immediately. The EU aid will focus on a limited number of priorities with particular emphasis on good governance and economic growth, she added. Ashton also said that the European Investment Bank (EIB) is currently working on an extensive pipeline of already identified new projects with an estimated lending activity of USD529.4 million over the next two years. Ashton confirmed Jordan's eligibility for the European Bank for Reconstruction and Development's investment, expected to increase over 2-3 years to an annual volume of USD397 million, depending on the needs and opportunities given," she added. Jordan and EU also signed USD19.8 million and USD6.6 million to finance the second phases of the reinforcement of modernization of the services, technology and innovation sectors.

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