Jordan, UK Launch Mechanism To Follow Up On London Deals

Jordan, UK Launch Mechanism To Follow Up On London Deals

AMMAN, Jordan, Mar 3 (NNN-PETRA) – Jordan and Britain on Saturday launched a follow-up mechanism, to ensure the commitments in London, to provide Jordan with loans, grants and loan guarantees are delivered.

The two countries launched the Jordan Task Force, which is a joint effort between Britain, Jordan, donors, private sector, civil society and international financial institutions, chaired by the governments of the two sides.

The committee will convene every six months to review outcome and provide suggestions to maximise the effect on Jordan’s growth, according to a statement by Jordan’s Ministry of Planning.

On the private sector, the two countries will work closely together, to follow up with the business interest raised in London, in order to turn it into investment.

During the London event, Germany announced it will provide Jordan with 460 million euros (523.37 million U.S. dollars) in assistance in 2019, while the European Investment Bank said, it will provide the kingdom with more than 800 million euros in assistance and loans over the next two years.

The EU said, it will provide soft loan for Jordan totalling 1.6 billion euros over the next two years.

Britain also announced that it will underwrite a 250-million-dollar loan for Jordan, to help reduce its public debt, which currently represents 94 percent of the gross domestic product.– NNN-PETRA


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