Saudi Arabia transfers $38.6 million to Jordan in final tranche from Mecca Summit

AMMAN — The Ministry of Planning and International Cooperation and the Saudi embassy in Amman on Tuesday announced transferring $38.6 million, under the fifth and final tranche of the outcomes of the Mecca summit, to support the Kingdom’s economy. 

The grant comes as part of Saudi Arabia’s support to Jordan’s budget, and is valued at $250 million over five years (2018-2022), according to a ministry statement.

During the signing ceremony, Minister of Planning and International Cooperation Zeina Touqan welcomed Saudi Ambassador to Jordan Nayef Bin Bandar Al Sudairi and Director General of the Public Administration for International Development Cooperation at the Saudi Ministry of Finance Abdulmohsen Mutawwa.

Touqan commended the bilateral relations between the Kingdom and Saudi Arabia, which are supported by His Majesty King Abdullah, Custodian of the Two Holy Mosques King Salman Bin Abdulaziz Al Saud and Crown Prince Mohammed Bin Salman Bin Abdulaziz.

The minister expressed the gratitude and appreciation of the government to Saudi Arabia for the continuous development support to the Kingdom over years and Riyadh's contribution in the Gulf countries' grant and the aid package under the Mecca Summit.

Sudairi stressed that the support is part of ongoing Saudi support to Jordan as part of outcomes of the Mecca Summit to support the Jordanian economy that enjoys power, resilience and diversity. 

The ambassador added that the Jordanian economy is "solid and capable of achieving growth" despite regional repercussions that affected the region, referring to the Kingdom's ability to adapt with regional events, minimise the negative impacts within reasonable limits, and sustain growth and production rates.

Saudi Arabia previously granted Jordan $1.25 billion, as part of its contribution in the Gulf countries’ grant to Jordan, in addition to supporting Jordan’s efforts to host Syrian refugees and their host communities.