Prime Minister Announces UK Aid to Boost Jordan’s Prosperity

Prime Minister Theresa May will announce UK aid to help Jordan transform its economy at the Jordan: Growth and Opportunity conference in London today

Prime Minister Theresa May will today (28 February) set out an increased UK aid package of support to help Jordan’s economy become more self-sufficient at a major international conference in London.

The Prime Minister will use the ‘Jordan: Growth and Opportunity’ conference to call on global leaders and businesses to follow the UK’s lead and invest in Jordan’s future.

Today’s announcement will provide new investment grants to create new jobs, boost productivity and increase the country’s economic resilience.

The package will be tied to Jordan’s own ambitious plans, with most grants linked to delivery of reform. It will help to stabilise Jordan’s economy and support the country’s promising entrepreneurs as they build small and medium sized businesses.

The UK sees Jordan as a critical partner at the heart of an unstable region and will continue working closely with its key ally in the interest of mutual security, stability and prosperity.

Speaking at the Jordan conference, International Development Secretary Penny Mordaunt said:

Jordan is a nation which is doing the right thing. It is reforming its economy, investing in its people and in the wake of the conflict in Syria has taken on a huge share of the responsibility of providing a safe haven for millions of refugees. It is a beacon of stability amid the conflict and uncertainty of the Middle East. We must stand by Jordan and support its ambitious plans for economic reform. We will all benefit from the greater stability, security and trade that growth in Jordan will bring.

Today’s UK aid support includes:

using Britain’s development programme in the UK’s national interest and in close partnership with the private sector – announcing that the UK will underwrite a $250 million World Bank loan to Jordan;
a new £14m contribution to a new World Bank-led trust fund for Jordan. This pools international donations which will be spent on modernising government systems, promoting exports and making doing business easier;

a new £50m contribution to a multi-donor fund to provide low-interest loans tied to reform and a Youth, Technology and Jobs programme with a focus on jobs and business opportunities for Syrian refugees;
a new partnership between the UK Government and Government of Jordan to strengthen commercial relationships and unlock investment opportunities;
the deployment of top British experts to work with Jordan’s economic institutions, to help modernise its banking system, improve its business environment and boost its tax revenue; and
using English language training to help further enhance cooperation with Jordanian military and border forces. This will lead to more effective joint operations between the UK and Jordan, enabling better security for both countries, as well as smoother trade and travel for English speakers.

By supporting Jordan’s long-term prosperity, the UK will boost the potential of the country as its future trading partner, support stability in the Middle East and tackle international threats like global terrorism.

Support to Jordan follows the bold new approach set out on the PM’s visit to Cape Town last summer where she announced that international development should be done with the UK’s national interest in mind.

The UK aid package announced today involves expertise and funding from across the UK government, including the Department for International Development, Department for International Trade, Home Office, the British Council and the Conflict Stability and Security Fund.

The event in London will champion Jordan as a key partner for international trade, underlining the power of investment to enable countries to move to a future beyond aid.

Information and Photo source: https://www.gov.uk/government/news/prime-minister-announces-uk-aid-to-boost-jordans-prosperity