EU loans €100m to Jordan for Macro-Financial Assistance

GMT 01:57 2015 Saturday ,08 August

Arab Today, arab today EU loans €100m to Jordan for Macro-Financial Assistance

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The European Union (EU) on Friday provided a loan of 80 million euros to Jordan as the second tranche of the Macro-Financial Assistance (MFA) programme, with the loan totally reaching 180 million euros.

The first disbursement under the MFA programme to Jordan, amounting to 100 million euros, took place on 10 February 2015, according to a statement.

"Jordan is an important partner for the European Union and we are committed to helping the Jordanian people cope with the knock-on effects of the severe crises the Middle East is experiencing," said Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs.

"Today's decision is a further concrete sign of our solidarity. We are living up to our promise to support Jordan's economic reforms to boost growth and job creation," he added.

The EU's assistance came in addition to other forms of EU support to Jordan that includes energy policy, employment and private sector development, it said in the statement.

The EU said it has provided more than 300 million euros to Jordan since the beginning of the Syrian crisis, helping the country address its related humanitarian, development and security needs.

The Macro-Financial Assistance (MFA) is an exceptional EU crisis-response instrument available to EU neighbouring partner countries experiencing severe balance of payments problems. It is complementary to the assistance provided by the International Monetary Fund.

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