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Saudi Arabia, Kuwait, UAE deposit over $1bn in Jordan Central Bank

 
 

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The Daily Star, 4 October 2018

Saudi Arabia, Kuwait, and the United Arab Emirates have placed over $1 billion in deposits at the Central Bank of Jordan and committed $500 million in budget support over five years as part of a $2.5 bln package to shore up the kingdom's struggling economy, a Jordanian government source said.

The source said a signing agreement will take place later Thursday that announces the breakdown of a $2.5 billion aid package pledged last June to help the Jordan implement austerity measures which had sparked massive protests.

The package also includes $600 million in credit guarantees by the three Gulf countries that will help Jordan secure cheap World Bank credit and other financing for much-needed infrastructure projects.

Kuwait was the first to place $500 million in the Central Bank while another $330 million was received on Thursday from Saudi Arabia, the source added.

The Daily Star
04/10/2018

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