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Jordan to receive aid package from Saudi Arabia, UAE, Kuwait

Jordanian King Abdullah II (R), Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah (L), King of Saudi Arabia, Salman bin Abdulaziz Al Saud (not seen) and Vice President of the United Arab Emirates (UAE), Sheikh Mohammed bin Rashid Al Maktoum (not seen) meet within a summit to discuss ways of easing an ongoing economic crisis in Jordan, on 11 June, 2018 in Mecca, Saudi Arabia [Saudi Kingdom Handout/Anadolu Agency]
Jordanian King Abdullah II (R), Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah (L), King of Saudi Arabia, Salman bin Abdulaziz Al Saud (not seen) and Vice President of the United Arab Emirates (UAE), Sheikh Mohammed bin Rashid Al Maktoum (not seen) meet within a summit to discuss ways of easing an ongoing economic crisis in Jordan, on 11 June, 2018 in Mecca, Saudi Arabia [Saudi Kingdom Handout/Anadolu Agency]

The governments of Saudi Arabia, the UAE and Kuwait are set to agree on a financial assistance package for Jordan today, the official news agency Petra reported.

Jordanian Finance Minister Izzeddin Kanakrieh said yesterday that the three countries will provide an aid package made up of four components: $1 billion in deposits at the Central Bank of Jordan, credit guarantees for the bank, an annual grant to the Jordanian budget for five years, and funding for developmental projects.

He added that the package is an outcome of the Makkah agreement, which was held in the Saudi city in June and which included a financial assistance package worth of $2.5 billion to be offered to Jordan over a period of five years.

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