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Saudi Arabia, UAE, Kuwait Pledge $2.5 Billion Economic Aid Package to Jordan

Jordanian King Abdullah II received on Thursday the finance ministers of Saudi Arabia, Kuwait, and the United Arab Emirates/Petra news agency
Jordanian King Abdullah II received on Thursday the finance ministers of Saudi Arabia, Kuwait, and the United Arab Emirates/Petra news agency
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Saudi Arabia, UAE, Kuwait Pledge $2.5 Billion Economic Aid Package to Jordan

Jordanian King Abdullah II received on Thursday the finance ministers of Saudi Arabia, Kuwait, and the United Arab Emirates/Petra news agency
Jordanian King Abdullah II received on Thursday the finance ministers of Saudi Arabia, Kuwait, and the United Arab Emirates/Petra news agency

Saudi Arabia, Kuwait and the United Arab Emirates placed on Thursday $1.16 billion in deposits at the Central Bank of Jordan as part of a $2.5 billion economic aid package to Amman over five years to support the budget, fund development projects, and provide credit guarantees to enable secure international financing.

The three countries pledged the aid package while Jordanian King Abdullah II received the finance ministers of Saudi Arabia, Kuwait, and the UAE, who are visiting Jordan to follow up on the outcomes of the Makkah Summit held in June to support the Kingdom’s economy.

During the meeting, King Abdullah thanked the three countries for their ongoing support for Jordan to enable it to cope with the economic burden it is shouldering as a result of regional crises.

He also affirmed the deep-rooted, brotherly ties between Jordan and these countries.

Riyadh's contribution to Amman included a grant agreement worth $250 million over five years to support the public budget to implement development projects and programs, in addition to signing a deposit agreement at the Central Bank of Jordan worth $333.3 million.

In total, the three countries pledged $1.16 billion in deposits at Central Bank, $550 million in soft financing for development projects, $200 million in credit guarantees to the World Bank to help Jordan secure soft loans and $500 million in grants to support the budget over five years for the implementation of development projects.

Kuwait has also announced plans to reschedule $300 million worth of loans for a period of 40 years.

During a meeting with the three Arab Gulf countries' finance ministers, Deputy Prime Minister and Minister of State, Rajai Muasher said the support of the brotherly countries aims to address the current economic conditions facing Jordan resulting from the instability in the region and its repercussions on the Kingdom.

For his part, Jordanian Finance Minister Ezzedine Kanakrieh said the grants to the budget will help reduce the deficit and the loans will be used for development projects, noting the deposits that will be transferred to the Central Bank of Jordan will help support the bank's foreign currencies reserves, which will reflect positively on the economy.

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Iranian Official to Asharq Al-Awsat: Committed to Peace and Stability with Saudi Arabia

Iranian Deputy Foreign Minister Majid Takht Ravanchi (Reuters)
Iranian Deputy Foreign Minister Majid Takht Ravanchi (Reuters)
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Iranian Official to Asharq Al-Awsat: Committed to Peace and Stability with Saudi Arabia

Iranian Deputy Foreign Minister Majid Takht Ravanchi (Reuters)
Iranian Deputy Foreign Minister Majid Takht Ravanchi (Reuters)

Iranian Deputy Foreign Minister Majid Takht Ravanchi reaffirmed Iran and Saudi Arabia’s mutual determination to establish lasting peace and stability in the region.
Speaking to Asharq Al-Awsat during his visit to Riyadh, Ravanchi emphasized that achieving this goal requires sustained bilateral and regional cooperation to address current threats and build a foundation for prosperity and security.
During his meetings with the Saudi Vice Minister of Foreign Affairs, Eng. Waleed ElKhereiji, Ravanchi discussed strengthening bilateral relations in political, economic, and consular fields, and explored key regional and international issues.
He described Saudi-Iranian efforts as a “successful model of bilateral and multilateral cooperation,” aimed at fostering peace, security, and development on both regional and international levels. Ravanchi underscored the importance of historical ties and the principle of good neighborliness as the basis for advancing this relationship.
Following the second meeting of the Saudi-Chinese-Iranian trilateral committee in Riyadh, both Saudi Arabia and Iran reiterated their full commitment to implementing the Beijing Agreement, according to a statement by the Saudi foreign ministry. The accord, mediated by China, aims to restore diplomatic ties and promote mutual respect for sovereignty and security in accordance with the principles of the UN Charter, the Organization of Islamic Cooperation (OIC), and international law.
China praised the progress achieved since the agreement’s signing, including the reopening of embassies and increased bilateral engagement. It pledged to continue supporting Saudi-Iranian efforts to deepen their cooperation and maintain regional stability.
Ravanchi, who previously served as Iran’s ambassador to the United Nations and was a member of the Iranian nuclear negotiating team with the P5+1, described the atmosphere of the meetings as “cordial and transparent.” He added that the three nations exchanged views on topics of mutual interest and stressed the importance of continuing this “positive and forward-looking process.” He also revealed “constructive and friendly” meetings held by the Iranian delegation with their Saudi hosts and Chinese counterparts, during which they discussed enhancing bilateral and trilateral cooperation and reviewed developments in relations over the past year.
One significant development has been the improvement in consular services. Over 87,000 Iranian pilgrims performed Hajj, and more than 52,000 completed Umrah in the past year, demonstrating enhanced coordination. Additionally, the first meeting of the Saudi-Iranian Joint Media Committee and the signing of an MoU between Saudi Arabia’s Prince Saud Al-Faisal Institute for Diplomatic Studies and Iran’s Institute for Political and International Studies further strengthened institutional ties.
The trilateral meeting also tackled pressing regional challenges, particularly the Israeli-Palestinian conflict. The participants condemned Israel’s aggression in Palestine, Lebanon, and Iran, calling for an immediate cessation of hostilities and the continuation of humanitarian aid to affected regions. They warned that ongoing violence poses significant risks to regional and global security, including threats to maritime safety.
On Yemen, the parties reiterated their support for a comprehensive political solution under United Nations auspices. They emphasized the importance of dialogue and diplomacy to achieve lasting peace in the war-torn country.
Saudi-Iranian relations have undergone a remarkable transformation since the signing of the Beijing Agreement. The reopening of embassies, including Iran’s embassy in Riyadh in June after a seven-year hiatus, marked a turning point in their ties.
Iranian Deputy Foreign Minister for Consular Affairs Alireza Bigdeli described the day as a “historic milestone” in Saudi-Iranian relations. He expressed confidence that the renewed relationship would reach its peak, emphasizing that the restoration of ties between Iran and Saudi Arabia opens a new chapter in bilateral and regional relations, aimed at greater cooperation and stability.