Jordan inks $429.7M grants deal with US

Published September 22nd, 2015 - 12:39 GMT
Total financial assistance from the US to Jordan stands at $615.3M, according to the Minister of Planning and International Cooperation. (AFP/File)
Total financial assistance from the US to Jordan stands at $615.3M, according to the Minister of Planning and International Cooperation. (AFP/File)

Jordan and the US on Monday signed four grant agreements worth $429.7 million under the Economic Support Fund (ESF) for 2015.
The agreements were signed by Minister of Planning and International Cooperation Imad Fakhoury and newly appointed USAID Mission Director to Jordan Jim Barnhart in the presence of US Ambassador to the Kingdom Alice G. Wells.

On the details of the grants, Fakhoury said $231.4 million will be in direct assistance to the state budget, adding that the amount is expected to be transferred to the Treasury before the end of this year.

Another grant worth $133.4 million will be allocated for social sector quality, the minister said, noting that a grant of $35.7 million is allocated for strengthening democratic accountability and another of $29.2 million for inclusive economic development.

Fakhoury described the US as a key strategic partner of Jordan, adding USAID remains Jordan's number one donor in various development fields that include water, environment, education, energy and youth among other sectors.

He stressed that the grants come in appreciation of the reform process led by His Majesty King Abdullah.

Total US financial assistance to Jordan in 2015, the minister said, stands at $615.3 million, as an amount of $185.6 million has already been obligated for the $1.5 billion US-guaranteed euro bonds Jordan issued in international markets.

He indicated that earlier this year, the two countries signed an agreement to provide Jordan with 100,000 tonnes of wheat worth $25 million.

Monetisation of the wheat aid will be utilised to finance a number of projects in the sectors of water and agriculture, he added.

With military assistance, US economic support to Jordan for this year is around $1 billion, the official said, adding that Jordan still counts on the US for future support to enable the country achieve its development objectives.

Wells said the support reflects the US commitment to the development of Jordan and to improve the livelihoods of Jordanians.  

US support has benefited people in all parts of the Kingdom from Ramtha to Aqaba in all fields, she emphasised.

The ambassador described the Kingdom as the voice of moderation and modernisation in the region.

By Omar Obeidat

 

© Copyright The Jordan Times. All rights reserved.

You may also like