Saudi transfers $38.6m grant to Jordan

Jordan’s Ministry of Planning and International Cooperation and the Saudi embassy in Amman announced yesterday that Riyadh had transferred $38.6 million, the final tranche of a grant to support Amman’s economy, local media outlets reported.

The funds form part of $250 million in funding which aim to support the general budget of Jordan over a period of five years from 2018 to 2022 within the framework of an agreement signed in 2018.

Jordan’s Minister of Planning and International Cooperation Zeina Touqan expressed Amman’s appreciation for Saudi’s support for the Hashemite kingdom’s continuous development. She stressed the importance of this backing, adding that it is her aspiration to strengthen and develop these relations for the benefit of both countries.

Praising Amman, Saudi Ambassador Nayef Al-Sudairi said: “The Jordanian economy is strong and capable of growth despite the challenges and regional repercussions that have affected the region, and Jordan has been able to adapt to events and keep the negative impacts as much as possible within their potential limits, and maintain the wheel of construction, growth and production.”

For his part, the Saudi ambassador stressed that the support is part of ongoing Saudi support to Jordan as part of outcomes of the Mecca Summit to support the Jordanian economy that enjoys power, resilience and diversity.

Saudi Arabia has previously granted Jordan $1.25 billion in addition to supporting Jordan’s efforts to host Syrian refugees through a grant of $100 million.

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