European Commission proposes 200 million euro loan for Jordan

BRUSSELS, June 29 (KUNA) -- The European Commission proposed Wednesday 200 million euro in medium-term loans for Jordan at favourable financing conditions.
Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs, said in a statement that "today we are taking further action to help Jordan preserve macro-economic stability and to support the reforms needed for more sustainable and inclusive growth. Jordan has been strongly affected by events in Syria since the crisis there began in 2011." This financial assistance is part of a wider effort by the EU and other international donors, agreed at the London conference "Supporting Syria and the region" in February 2016, to help Jordan and other countries in the region mitigate the economic and social impact stemming from the regional conflicts and the presence of a large number of Syrian refugees in the country, he noted.
The European Parliament and the EU Council of ministers need to approve the new loan to Jordan before disbursements could start later this year. The new assistance is to be disbursed in two instalments in 2016 and 2017. (end) nk.nfm