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TunisiaJordan: Council adopts its negotiating position for further EU assistance of €500 million in loans
The Council adopted its mandate, setting out its position for negotiations with the European Parliament, on a decision to provide up to €500 million in macro-financial assistance (MFA) to Jordan. The EU assistance will bolster Jordan’s economic stability and support its ongoing reform agenda in the face of mounting internal and external challenges. It will help the country meet its outstanding external financing needs while creating the fiscal space necessary to sustain reform efforts. The assistance, provided in response to Jordan’s request for additional support in October 2023, will be available for two and a half years and will be provided in the form of long-term loans, disbursed in three instalments.
The assistance will be subject to a memorandum of understanding (MoU), to be agreed by Jordan with the Commission. The disbursement of instalments will be strictly linked to Jordan’s progress with the reforms outlined in the MoU. Furthermore, Jordan must continue to respect democratic mechanisms, the rule of law, and human rights throughout the programme’s duration. The Commission and the European External Action Service (EEAS) will monitor the fulfilment of this precondition for the duration of the macro-financial assistance.
Countries covered:
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Jordan
