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Jordan receives 55 million euro grant from EU

By JT - Jan 26,2017 - Last updated at Jan 26,2017

Planning and International Cooperation Minister Imad Fakhoury speaks at a grant agreement signing ceremony in Amman on Thursday (Photo courtesy of Ministry of Planning and International Cooperation)

AMMAN — Planning and International Cooperation Minister Imad Fakhoury on Thursday signed a grant agreement worth 55 million euros (around JD42 million) from the EU.

The agreement provides sectoral support through the national budget to develop the private sector, a statement from the ministry said.

Out of the EU’s understanding of the repercussions of the Syrian refugee crisis and honouring its commitments to bilateral cooperation and the London donor conference on Syria, 10 million euros were added to the initial pledge, said the statement.

Jordan hosts over 1.3 million Syrians, according to the latest census. The UNHCR says 655,496 Syrians are officially registered as refugees in the Kingdom.

The sectoral support targets enhancing competitiveness and the investment climate, empowering small enterprises, in addition to supporting development in underprivileged regions, all in line with the Jordan Compact 2025, the ministry said.

Fakhoury said the grant is divided into two parts, the first is 41 million euros and will be used by the government to realise a number of priority agenda items. 

The remaining14 million is allocated to support Jordanian factories and companies that are keen on exporting to EU countries, benefiting from the relaxed rules of origin granted to Jordan last year.

The grant will enhance the government’s performance in implementing the strategies and plans of the Jordan Compact, adopted after the London conference last year, and supporting small- and medium-sized institutions to export to EU markets, the statement said.

EU Ambassador to Jordan Andrea Matteo Fontana, who signed the agreement with Fakhoury, said that supporting the private sector has always been the core of the EU’s aid polices to assist Jordan.

 

Fakhoury thanked the EU for its support.

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Comments

AIDS AND GRANTS ARE GOOD BUT IT APPEARS TO BE THE MAIN SOURCE OF REVENUE FOR THE KINGDOM WHE WE HAVE LOTS OF BRAINS AND TALENTS THAT CAN BE PUT TO USE AND CREATE OUR OWN INOVATIONS, MANUFACTURING BASE AND MAKE THE EFFECTIVE USE OF OUR OWN GOD GIVEN NATURAL RESOURCES.

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