First Disbursement of U.S. Cash Grant Worth USD 600 Million Transferred to Treasury

[17-07-2021 10:15 AM]

Ammon News - Shraideh: The grant comes in recognition of King’s efforts to strengthen cooperation with U.S

Carlin: Signifying strategic and close partnership between U.S. Government and Jordan, cash transfer’s early release reflects continuing U.S. commitment to help Jordan advance stable, prosperous future

The signing of an agreement to transfer the first disbursement of the US cash transfer grant worth USD 600 million to the Treasury was announced today, ahead of His Majesty King Abdullah II’s official visit to Washington, DC.

The early disbursement will contribute to the financing of priority government programs and support Jordan’s economic recovery.

The agreement was signed by Minister of Planning and International Cooperation Nasser Shraideh, on behalf of Jordan, and by United States Agency for International Development (USAID) Mission Director Sherry F. Carlin.

This is the first disbursement of the USD 845 million cash grant for 2021, which falls under the U.S. economic assistance program to Jordan for the current year.

Shraideh emphasized that the early disbursement of the cash transfer agreement to the Treasury reflects the close strategic partnership between the two countries, noting that the early release of funds is a result of His Majesty King Abdullah’s efforts to strengthen cooperation with the United States to ensure a direct and tangible impact on Jordan’s various sectors.

The grant, Shraideh added, will be used to support priority development projects in the public finance, water, education, health, public works, housing, energy, mineral resources, local administration, tourism, antiquities, and youth sectors, and will contribute to a reduction in the general budget deficit.

The second disbursement, amounting to USD 245 million of the cash transfer, is expected to be transferred to the Treasury before the end of the year, Shraideh said.

The Minister expressed the gratitude and appreciation of the Government of Jordan to the U.S. government and the American people for their continuous support for Jordan, saying it “represents the close ties between the two sides and the strategic partnership that governs this relationship.”

Shraideh also commended the USD 40 million contribution from the United States to the Government of Jordan’s Istidama program to keep people employed during the pandemic and to support private sector businesses during the economic downturn.

In addition, the United States established a multi-donor fund that has raised over USD 100 million to bolster the National Aid Fund’s emergency cash assistance for Jordan’s most vulnerable populations.

“This early release of the cash transfer reflects the continuing commitment of the U.S. Government and the American people to help the Government of Jordan advance a stable and prosperous future for the people of Jordan,” said USAID Mission Director Sherry Carlin.

“Jordan and the United States are working side by side as we fight the COVID-19 pandemic and progress Jordan’s economic recovery,” she added.

The USD 845 million cash transfer is part of the current five-year U.S. commitment, which continues a partnership between Jordan and the United States going back decades to enhance economic stability, strengthen democratic governance, and improve essential service delivery to meet the needs of the people of Jordan.

The USD 845 million is part of USD 1.5 billion appropriated by the U.S. Congress to Jordan in the U.S. Fiscal Year 2021 budget.

The total assistance—economic and military—the Kingdom is expected to receive from the United States during 2021 is approximately USD 1.65 billion. A total of USD 1.2 billion is earmarked for economic assistance, with USD 845 million provided as direct cash support to the Treasury.

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