France will provide 300 million euros to support budget, says minister

19-03-2017 03:57 PM

Ammon News - AMMONNEWS - Jordan is set to sign this year two budget-support agreements worth 300 million euros. The first agreement with France is worth 150 million euros, while the second with a French-German joint financing is valued at 150 million euros, according to Minister of Planning and International Cooperation Imad Fakhoury.

In a joint press conference with French Minister of State for Development and Francophonie, Jean-Marie Le Guen, Fakhoury stressed the importance of the 900 million euros Memorandum of Understanding (MoU) for 2016-2018, which was renewed with the French Development Agency (AFD) for the third time in April 2016 during President Francois Hollande's visit to Jordan.

He said the MoU reflects France's commitment to continue supporting Jordan in these difficult times.

The French minister said his country will honor commitments made in the London Conference to support Jordan and will provide an additional amount of 212 million euros, including 120 million euros for budget support and the rest to support the private sector.

He added that his country will stand by Jordan in the upcoming Brussels conference on Syria expected in April, and support the Kingdom's legitimate demands to support its budget.

"France will also urge the European Union and other countries to assume their responsibilities in supporting Jordan," he added.

Le Guen noted that France is supporting a 32 million euros project to provide about 10,000 houses with clean water, affirming France's commitment to the Red Sea–Dead Sea Project.

The two ministers held a meeting earlier, during which they discussed this project and the AFD discussions with possible donors and lenders to support the project.

They also discussed a wide range of issues related to supporting the national economy and relations with the European Union.

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