Ammon News - AMMONNEWS - The EU today approved the disbursement of an €80 million loan to Jordan - the second and final tranche of a €180 million Macro-Financial Assistance (MFA) programme for the country, a statement said.

"Jordan is an important partner for the European Union and we are committed to helping the Jordanian people cope with the knock-on effects of the severe crises the Middle East is experiencing," said EU Commissioner Pierre Moscovici, responsible for Economic and Financial Affairs, Taxation and Customs.

This assistance comes in addition to other forms of EU support to Jordan that includes regular cooperation in Jordan's reform efforts in areas such as energy policy, employment and private sector development, as well as the more than €300 million provided since the beginning of the Syrian crisis to help the country address its related humanitarian, development and security needs.

Macro-Financial Assistance is an exceptional EU crisis response instrument available to the EU's neighbouring partner countries. This operation is complementary to assistance provided by the IMF. MFA loans are financed through EU borrowing on capital markets. The funds are then on-lent with similar financial terms to the beneficiary countries.

The MFA programme is also intended to support reforms which aim at strengthening public finance management and the tax system, increasing social inclusiveness, improving the investment climate, enhancing energy efficiency and promoting economic integration with the EU. The memorandum of understanding with Jordan and the Loan Facility Agreement related to this assistance were signed in Brussels on March 18, 2014.

*ANSAmed