Jordan and US sign $845.1M annual economic grant agreement

(Photo: Jordan News Agency, Petra)
AMMAN — On Tuesday, the Kingdom signed the US annual grant agreement amounted to $845.1 million. Prime Minister Bisher Al-Khasawneh presided over the signing agreement in the presence of US Ambassador to Jordan Yael Lempert. اضافة اعلان

Signed on behalf of the Jordanian government by the Minister of Planning and International Cooperation, Zeina Toukan, and the Director of the US Agency for International Development (USAID), Leslie Reed, the grant contributes to governmental efforts in implementing developmental priorities and economic reforms within the executive program of the Economic Modernization Vision (EMV) (2023-2025) and the public sector modernization roadmap, Al-Ghad reported.

She added that the cash grant agreement is part of the US annual economic aid program to the Jordanian government, listed in the General Budget Law for 2023 within the framework of the strategic memorandum of understanding signed with the US in September 2022, covering seven years.

The expected value of US aid is about $10 billion, granting an understanding of the challenges facing Jordan and supporting the economic development process, along with hosting a large number of Syrian refugees.

Toukan noted that under the signed cash grant agreement, the annual and routine cash support will be transferred to the Single Treasury account.

This will assist government efforts to implement development programs and initiatives in public finance, water, energy, education, health, public works, housing, local development, tourism, antiquities, and youth sectors.

The support will also contribute to reducing the general budget deficit.

The minister highlighted that the cash grant agreement included an additional allocation of $200 million by the US Congress, exceeding the rates of annual support stipulated in the memorandum of understanding within the 2023 budget, approved earlier this year.

According to Lempert, the aid is intended to support local reforms, focusing on job creation, financial stability, promoting the private sector, and addressing the water crisis intensified by climate change.

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