PM vows financial support for Jordan to help unlock nation’s potential

Theresa May has announced new financial support for Jordan to “open the door” to reinvigorating the country’s economy.

The Prime Minister, speaking at the close of a major international conference on the Arab state in London, said the UK would underwrite a 250 million US dollar (£188 million) World Bank loan to Jordan.

The support is designed to help the country borrow money at a lower rate and manage its national debt.

Britain will also increase its grant financing to Jordan over the next five years, Mrs May said, to attract the investment needed for creating jobs.

Jordan Growth and Opportunity Conference
Jordan’s PM Omar Razzaz also addressed the event (Toby Melville/PA)

The PM told the Jordan: Growth and Opportunity conference on Thursday afternoon: “To demonstrate the extent of the UK’s own confidence in Jordan, and our determination to make the vision that Jordan’s prime minister and king have spoken about today a reality, I am pleased that the UK will be underwriting a 250 million dollar World Bank loan to Jordan.

“This will come alongside a substantial uplift in our grant financing over the next five years. This will open the door to reinvigorating Jordan’s economy, attracting the investment needed to stimulate growth and create jobs.

“The UK’s assistance for Jordan is a practical demonstration of the approach I set out in Cape Town.

“This is about working in partnership, sharing our skills, experience and resources to jointly tackle the challenges we face in a way that delivers global security and prosperity.”

Mrs May said it “matters to all of us” to unlock Jordan’s potential so it can “prosper and remain a beacon of stability”.

King Abdullah II of Jordan and Theresa May
Mrs May earlier met King Abdullah II of Jordan at Number 10 (Stefan Rousseau/PA)

She told the conference: “Jordan sits at the centre of a region that has faced turbulence and uncertainty over the last decade.

“The political upheaval in 2010 and 2011, the emergence of Daesh, and the ongoing conflict in Syria have changed the face of the Middle East.”

She said a stable Jordan “defends us from terrorist groups taking root and strengthens the border security of neighbouring countries”.

She added: “And that is why our collective support for Jordan is so crucial.”

US treasury secretary Steve Mnuchin, interim president of the World Bank Kristalina Georgieva, EU foreign affairs representative Federica Mogherini, and foreign ministers from around the world also attended the conference.

Mrs May earlier held talks with King Abdullah II of Jordan in Downing Street.

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