Jordan is to receive €500 million ($581 million) from the European Union to support economic stability, stimulate growth and push reforms.
The macro-financial assistance – a long-term loan – is part of the €3 billion EU-Jordan strategic and comprehensive partnership adopted in January.
The €500 million will be released over the next two and a half years, subject to progress on Jordan’s reform agenda. It will allow the country to cover part of its external financing needs.
The agreed reforms seek to bolster Jordan’s economy in areas such as public finance management, governance and anti-corruption, social protection and labour market policies, green transition and business environment.
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The first instalment (of three) is due to be released within a month, but is dependent on political preconditions and a positive track record for the International Monetary Fund programme to assist Jordan, the European Commission said.
In December 2024, the IMF said Jordan would receive $131 million under its $1.2 billion extended fund facility programme.
The European Commission is proposing another €500 million in macro-financial assistance for Jordan, taking the total to €1 billion. This additional funding would need to be approved by the European Council and the parliament.