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Add to Preferred SourcesPrime Minister Theresa May will set out an increased UK aid package of support to help Jordan’s economy become more self-sufficient at a major international conference in London.
The Prime Minister will use the ‘Jordan: Growth and Opportunity’ conference to call on global leaders and businesses to follow the UK’s lead and invest in Jordan’s future.
The announcement will provide new investment grants to create new jobs, boost productivity and increase the country’s economic resilience.
The package will be tied to Jordan’s own ambitious plans, with most grants linked to the delivery of reform. It will help to stabilize Jordan’s economy and support the country’s promising entrepreneurs as they build small and medium-sized businesses.
The UK sees Jordan as a critical partner at the heart of an unstable region and will continue working closely with its key ally in the interest of mutual security, stability, and prosperity.
UK aid support includes:
- using Britain’s development programme in the UK’s national interest and in close partnership with the private sector – announcing that the UK will underwrite a $250 million World Bank loan to Jordan;
- a new £14m contribution to a new World Bank-led trust fund for Jordan. This pools international donations which will be spent on modernising government systems, promoting exports and making doing business easier;
- a new £50m contribution to a multi-donor fund to provide low-interest loans tied to reform and a Youth, Technology and Jobs programme with a focus on jobs and business opportunities for Syrian refugees;
- the deployment of top British experts to work with Jordan’s economic institutions, to help modernise its banking system, improve its business environment and boost its tax revenue.
The UK aid package announced involves expertise and funding from across the UK government, including the Department for International Development, Department for International Trade, Home Office, the British Council and the Conflict Stability and Security Fund.
Original source: DFID
Published on 28 February 2019