EU disburses €250 million in Macro-Financial Assistance to Jordan
July 22, 2021
The European Commission, on behalf of the EU, has disbursed €250 million in macro-financial assistance (MFA) to Jordan.
The disbursement is partly from the €3 billion emergency MFA package for ten enlargement and neighbourhood partners, which aims to help them limit the economic fallout of the COVID-19 pandemic (COVID-19 MFA programme), and partly from Jordan’s €500 million third MFA programme (MFA-III programme), which was approved in January 2020. The first €250 million disbursement to Jordan under these two MFA programmes took place in November 2020.
Paolo Gentiloni, Commissioner for the Economy, said: “Today’s disbursement of €250 million is testament to the European Union’s ongoing solidarity with the Jordanian people. These funds, released following the fulfilment of the agreed policy commitments, will help the Jordanian economy to emerge from the shock caused by the COVID-19 pandemic.”
MFA is part of the EU’s wider engagement with neighbouring and enlargement partners and is intended as an exceptional crisis response instrument. It is available to enlargement and EU neighbourhood partners experiencing severe balance-of-payments problems. It demonstrates the EU’s solidarity with these partners and the support of effective policies at a time of unprecedented crisis.