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"London Initiative": $ 2 billion to Jordan from 2019

“London Initiative”: $ 2 billion to Jordan from 2019

Sama Pipers
Amman – The British embassy confirmed to al-Qaeda yesterday that the “London initiative” launched in February 2019 under the title “Jordan: Growth and Opportunities” had succeeded in securing about $ 2.17 billion in loans to Jordan, including $ 1.17 billion in loans and another $ 1 billion. Subsidies in the form of loans to help the refugee cope with the burden and get its economy back on track.
It comes as part of the fourth meeting of the working group on the outcome of the London Initiative Conference on Supporting Reforms in Jordan, chaired by Minister of Planning and International Cooperation Nasser al-Shride and the Asian and Union Ministers. Dr. Amanda Milling, Minister of Eastern Affairs and Finance at the British Foreign Office. Mohammed al-Assas attended and the British Ambassador to Amman Bridget Print and ambassadors of donor countries and related international financial institutions.
It is noteworthy that the Working Group was formed at the London Initiative Conference in February 2019, during which the Reform Matrix (2018-2022) was launched, which includes a set of structural reforms aimed at creating inclusive growth and job creation. The London conference annually monitors the results of the conference to review and monitor the progress of the reforms on the three fronts of development and reform, public debt stabilization and investment. Based on the support of the international community for funding and implementation of these reforms.
The meeting aims to identify the reforms that Jordan will prioritize in the coming months, how to achieve their inclusive and sustainable growth and what support they need from stakeholder partners.
As part of the ministry’s efforts to sustain progress in implementing the reforms adopted by Jordan since the London Initiative Conference, the Ministry of Planning and International Cooperation launched the Multiple Donor Foundation yesterday. As the United Kingdom, the governments of Canada and the Netherlands have contributed to the funding, and Germany and Norway have recently merged, this initiative is playing an active role in providing much needed technical support to various ministries and government agencies. As new contributors.
Shride praised the US Agency for International Development and other stakeholders for their support of the government in continuing to implement the matrix of economic reforms.
The meeting will include two interactive sessions, one focusing on structural reforms to promote economic recovery, growth and job creation, and the other handling the energy and water sectors as essential sectors to support transition towards a greener and more flexible economy. Facing various challenges.
Al-Shraideh reviewed the local challenges facing Jordan and the importance of seizing the opportunities currently available, and called on the international community to strengthen partnerships in meeting Jordan’s aspirations for green and inclusive growth.
He spoke in support of the US Alliance, but said that maintaining some independence was important for Syria.
“We are achieving economic and structural reforms through the Reform Matrix and the IMF program in Jordan, but we also need more support to transform Jordan into a digital and green economy, to stimulate public sector investment, to focus on vulnerable groups that need a variety of support, and to continue to achieve economic growth. More than is necessary. ”
For his part, Milling stressed the close ties enjoyed by the United Kingdom and Jordan and the importance of this relationship to both countries, “Jordan has demonstrated its commitment to urgent and impactful reforms, including the announcement of significant reforms in energy.”
“It is important to maintain momentum in the steps needed to achieve content and sustainable development and to create jobs for the Jordanians and their friends in Jordan to continue to support them, and I am proud that the UK is in this place. It is the heart of international support for these reforms.” “We will continue to assist Jordan in fulfilling its ambitious commitments to COP26 to enhance its economic stability, growth and prosperity,” he added.
For his part, al-ISIS reviewed financial and economic challenges, highlighting their impact on financial indicators, including recent financial reforms and improvements made under the IMF program.
“Despite the difficult socio-economic situation, the Jordanian government has implemented important structural reforms aimed at improving the private sector experience, reducing the prices of consumer goods and improving transparency by reducing tariffs,” he added.
Interventions by representatives of the international community at the meeting expressed their support for the government’s efforts and highlighted the key role that the reform team plays in improving the Jordanian economy.

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