Jordan aid of USD 2.5 billion approved by Saudi Arabia, UAE and Kuwait
After the following of a wave of anti-austerity protests, the neighboring countries to Jordan that is Saudi Arabia, the UAE and Kuwait have decided to offer the nation USD 2.5 billion to ease their economic crisis. The news was mentioned in the early hours of Monday in the Saudi State Media.
After having a meeting that was attended by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the announcement had come.
The official Saudi Press Agency informed, “In light of the close brotherly ties… it was agreed that the three countries would provide an economic aid package to Jordan totalling USD 2.5 billion dollars.”
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai upon arrival was received by Prince Khalid Al Faisal, Adviser to King Salman and Emir of Makkah at the King Abdul Aziz International airport and a number of senior Saudi officials.
Shaikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future, Shaikh Shakhbout Bin Nahyan Bin Mubarak Al Nahyan, UAE Ambassador to Saudi Arabia, and Khalifa Saeed Sulaiman, Director General of the Department of Protocol and Hospitality in Dubai are included in the UAE delegation.
The summit that was attended by Shaikh Mohammad, Jordan’s King Abdullah II and representatives from Kuwait was called upon by the Saudi King Salman. Jordan blames their economic woes on the instability going on within the region that has got the place rocking due to the burden of hosting a number of refugees from the war-torn nation of Syria; a nation that still complains that they have still not gotten enough international support.
Jordan, a nation that is a close ally of that of the US is now very much cash-strapped as it is struggling to curb the debt that they have incurred of a USD 723 million loan back in the ear of 2016 from the International Monetary Fund.
The World Bank has mentioned already early on this year that Jordan has got very weak growth prospects. And also, from the entire population that resides in Jordan, 18.5 percent of the working age population are currently unemployed. The country is really struggling to clear the debts and the financial help that they have received from the above mentioned neighboring countries are nothing but a huge bonus this year.