Bloomberg/Michael Nagle

Economy

Saudi Arabia, Kuwait, the UAE discuss more support for Jordan

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Last month, Saudi Arabia and Jordan signed an MoU aimed at bolstering the economy of the two countries with a JOD 500 million ($705 million) joint investment in Jordan.

Monday 04, March 2019 BY KUDAKWASHE MUZORIWA

The Saudi Minister of Finance has announced that Saudi Arabia, Kuwait, and the UAE are discussing further means to support Jordan, according to local newswire, Jordan News Agency.

Mohammed Al-Jadaan, Saudi Arabia's Minister of Finance, said, “Saudi Arabia has deposited USD 334 million in the Central Bank of Jordan CBJ and provided support through the Arab Monetary Fund, and is discussing with Kuwait and the UAE further support for the Kingdom.”

The Minister said that Saudi Arabia is committed to delivering on its promises and will support Jordan's budget with $250 million, of which $50 million was paid in 2018 and another $50 million will be paid this year. 

TAGS : CBJ , Mohammed Al-Jadaan, Arab Monetary Fund

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