The European Union has approved a new €150 million payment to Jordan under a €500 million macro-financial assistance programme aimed at supporting economic, administrative and political reforms in the Middle Eastern country.
With this latest transfer, Jordan has now received €400 million of the €500 million package approved by the EU. The first major payment, worth €250 million, was made by the European institutions in September last year.
However, the programme has not yet been completed. Another €100 million remains pending, with the European Commission expected to release the final tranche over the next twelve months provided that Jordanian authorities continue to meet the agreed conditions.
Funding tied to economic and political reforms
The latest payment follows progress by the Jordanian government on a series of reforms agreed with the European Union. These measures cover areas including public finance management, governance, the fight against corruption, social protection and the labour market.
The programme also includes reforms related to the green transition and the business environment.
Brussels has additionally stressed that Jordan must maintain an ongoing commitment to democratic principles, the rule of law and human rights in order to receive further funding.
The money comes through the EU’s macro-financial assistance mechanism, which provides financial support to non-EU countries facing economic difficulties or seeking assistance to implement structural reforms.
€100 million still to be released
Following Thursday’s payment, just €100 million remains to be disbursed under the €500 million programme.
The European Commission plans to release the remaining funds during the next year, provided that Amman fulfils the commitments set out in its Memorandum of Understanding with the EU.
Brussels considers Jordan a “key partner” and a “fundamental pillar” of regional stability in the Middle East. The EU argues that its financial support reflects the country’s strategic importance in one of the world’s most unstable regions.
The latest transfer means that the EU has already committed €400 million to Jordan within the programme, while a further €100 million remains available if the Jordanian authorities meet the agreed requirements.
