UK pledges millions in support for Jordan
THERESA MAY has announced new financial support for Jordan to “open the door” to reinvigorating the country’s economy.
The Prime Minister, speaking at the close of a major international conference on the Arab state in London, said the UK would underwrite a 250m US dollar (£188m) World Bank loan to Jordan. The support is designed to help the country borrow money at a lower rate and manage its national debt.
Britain will also increase its grant financing to Jordan over the next five years, Mrs May said, to attract the investment needed for creating jobs.
Mrs May told the conference: “To demonstrate the extent of the UK’s own confidence in Jordan, and our determination to make the vision that Jordan’s prime minister and king have spoken about today a reality, I am pleased that the UK will be underwriting a 250m dollar World Bank loan to Jordan.
“This will come alongside a substantial uplift in our grant financing over the next five years.
“This will open the door to reinvigorating Jordan’s economy, attracting the investment needed to stimulate growth and create jobs.
“The UK’s assistance for Jordan is a practical demonstration of the approach I set out in Cape Town.
“This is about working in partnership, sharing our skills, experience and resources to jointly tackle the challenges we face in a way that delivers global security and prosperity.”
The Prime Minister added that it “matters to all of us” to unlock Jordan’s potential so it can “prosper and remain a beacon of stability”.
US treasury secretary Steve Mnuchin, interim president of the World Bank Kristalina Georgieva, EU foreign affairs representative Federica Mogherini, and foreign ministers from around the world also attended the conference.