EU approves €100 million in financial assistance for Jordan

Today, the European Commission will disburse a €100 million loan to Jordan under the EU’s Macro-Financial Assistance (MFA) programme. Commissioner Pierre Moscovici, Commissioner for Economic and Financial Affairs, said: “Today’s decision to disburse €100 million to Jordan under a new MFA programme demonstrates the EU’s continued support for the country in these challenging times. I look forward to continuing our work with the Jordanian authorities on their reform programme and in securing a stable, stronger economy for Jordan to the benefit of its entire population.” This disbursement marks the launch of the second Macro-Financial Assistance programme for Jordan with a total worth of €200 million, which follows a first package of €180 million approved in 2013 and fully disbursed in 2015. The disbursement of the second €100 million instalment is expected to take place during the course of 2018, depending on Jordan fulfilling agreed commitments. The aim of this assistance is to strengthen the country’s foreign exchange reserve position and to help Jordan meet its balance of payments and budgetary financing needs. The MFA programme will also support reforms in a number of areas. These include public finance management, tax and social safety net systems, education and professional training, trade policies and active labour market policies aimed at increasing employment opportunities for both Jordanian citizens and Syrian refugees living in Jordan. A press release is available here.