EU approves 500m euros soft loan to Jordan

Jordan

Published: 2019-12-18 10:47

Last Updated: 2019-12-18 11:19


EU approves 500m euros soft loan to Jordan
EU approves 500m euros soft loan to Jordan

The European Parliament on Tuesday agreed with a vast majority to grant Jordan a soft loan of 500 million euros with a low interest rate to support the Kingdom's economy and alleviate burdens of regional crises, according to Jordan's Ambassador in Brussels Yousef Bataineh.

On September 6, the European Commission adopted a proposal to provide the Kingdom with 500 million euros as part of a new Macro-Financial Assistance (MFA) program to stimulate the growth and investment, create jobs, support economic stability and speeding up procedures to implement economic reforms.

Bataineh said that this decision is a "big appreciation" for the Jordanian role in the region.