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  • 18-12-19

    EU supports Jordan's economy with loan of USD557 million

    (MENAFN) The European Parliament agreed with a vast majority to fund Jordan a soft loan USD557 million with a low-interest rate, according to Jordan on Tuesday.


    The loan aims to assist Jordan's economy and ease the burdens of regional crises, as said in a statement by Jordan's Foreign Ministry, adding that, the EU choice is a big gratitude for Jordan's role in the region.


    The new program would build on the 2 previous Macro-Financial Assistance (MFA) programs through which the EU has paid out as many as 380 million Euros to Jordan since 2011.


    The European Commission adopted a proposal in September to give Jordan 500 million Euros as part of a new MFA program to stimulate expansion and investment, create jobs, assist economic stability and speed up procedures to apply economic reforms, as said by the ministry.

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