Washington grants Jordan $50 million for balance of payments
Jordan received a $50-million economic and development assistance grant from the United States on Tuesday, September 18, to support its balance of payments, the US embassy said in a statement.
The funds will help "support Jordan's ongoing economic restructuring and reform process, promote investment, stimulate trade, generate employment and increase household income," the statement said.
The grant is the last portion of an overall economic assistance package for the year 2001 valued at $150 million, the statement said. Washington grants Jordan annual economic aid of $150 million and military assistance estimated at between $50 and $75 million.
The countries signed a free trade agreement in October aimed at boosting US investment in the kingdom. The deal was approved by the US House of Representatives but still needs to approval by the Senate before it comes into effect. — (AFP, Amman)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)