UAE, Saudi Arabia and Kuwait to provide US$2.5 billion economic aid package to Jordan.

The UAE, Saudi Arabia and Kuwait have agreed to provide a US$2.5 billion economic aid package to Jordan, to help the country which is facing an economic crisis following anti-austerity protests.

The announcement was made this morning in a joint statement following an emergency summit of the four nations which was held in Makkah on Sunday. The meeting was hosted by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud at Al-Safa Palace with His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, King Abdullah II bin Al-Hussein of Jordan, and Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah of Kuwait to discuss ways to help Jordan overcome the crisis.

The package will include a deposit in the Central Bank of Jordan, World Bank guarantees for Jordan, annual support for the Jordanian Government’s budget over five years, and financing from funds for developmental projects.

The Jordanian King expressed his appreciation to the three Gulf nations for their quick response and for the aid which will ease the country’s economic crisis.

Source: UAE Ministry of Foreign Affairs