Tuesday, March 26, 2019
Text Size

Site Search powered by Ajax

Qatar pledges $500m in economic aid to Jordan

The announcement came just days after Kuwait, Saudi Arabia and the United Arab Emirates vowed $2.5 bn in aid to Amman.

King Abdullah II of Jordan and Qatari Foreign Minister Sheikh Mohamed bin Abdulrahman

Qatar said on Wednesday it would invest $500 million in Jordan, just days after Kuwait, the United Arab Emirates and Saudi Arabia pledged $2.5 billion in aid to the Hashemite Kingdom.

The announcement came during a meeting between King Abdullah II of Jordan and Qatari Foreign Minister Sheikh Mohamed bin Abdulrahman Al Thani in Amman.

The package includes opening 10,000 jobs for Jordanian nationals in the Gulf nation as well as investments in infrastructures and Tourism in Jordan.

On Monday, Saudi Arabia, the UAE and Kuwait extended $2.5 billion in aid that will go towards a deposit in Jordan’s central bank to cover World Bank loan guarantees, direct budget support in the form of cash deposits and finance other projects.

The hope is that the five-year aid package, which mirrors a similar aid package offered by Gulf states in 2011, will help Jordan come up with a new, more-palatable austerity plan to satisfy international lenders and its public.

The government of Jordan's Prime Minister Hani al-Mulki resigned after protesters blamed it for Jordan's economic mismanagement.

King Abdullah has since asked education minister in the outgoing government Omar al Razzaz to form the new government.

Razzaz later pledged to scrap the law and engage in dialogue to reach a new consensus on a new tax and economic reform.

blog comments powered by Disqus

Subscribe via RSS or Email:

Amazon HQ2 'to be split over New Yo...

Read More

Saudi to cut oil exports by 500,000...

Read More

European Union extends sanctions on...

Read More

What is SWIFT and why it matters in...

Read More

Bin Salman launches Saudi Arabia's ...

Read More

China's Xi pledges to lower tariffs...

Read More

Most Read Articles

Most Read News


Thanks to all of our supporters for your generosity and your encouragement of an independent press!

Enter Amount:



Login reminder Forgot login?

Subscribe to MWC News Alert

Email Address

Subscribe in a reader Facebok page Twitter page

Israel pounds Gaza

India's Kerala state devastated

Capturing life under apartheid