AMMAN -- Jordan and the US are expected to sign an agreement in the next two weeks concerning additional financial assistance of $200 million the US will extend to the Kingdom. Minister of Planning and International Cooperation Ibrahim Saif told The Jordan Times over the phone Tuesday that the two sides are working on finalising procedures related to the grant, which will be used to support the state budget.
This financial assistance will raise the total economic support the US has given the Kingdom this year to around $560 million. Washington regularly provides Jordan with $360 million annually.
The grant was announced by US President Barack Obama on March 22 during his visit to the Kingdom, when he said that the burden of hosting hundreds of thousands of Syrian refugees is growing heavier on the Kingdom's budget.
At a joint press conference with His Majesty King Abdullah in Amman, Obama also announced that his administration was working with Congress to provide loan guarantees to Jordan this year.
Officials have said previously that the US will guarantee Jordan's government bonds on international markets, which will reduce the Kingdom's borrowing costs.
The guarantees could reach $2 billion to finance the deficit in the state budget.
Last year, the US extended an additional grant of $100 million to support the state budget and help the Kingdom address its fiscal difficulties, particularly in light of the crippling regional unrest.
© Jordan Times 2013
