Jordanian King Abdullah II said Thursday there is no doubt the last few years have been challenging, yet Jordan remained prosperous and set for an exciting economic future.
"Slow growth cannot take us to the future that we know is possible, and it cannot give us the jobs and better lives that my people expect and deserve,” the King said, addressing attendees in London Initiative 2019 Conference, themed "Jordan: Growth and Opportunity."
“Jordan has taken a profound and comprehensive review of its economic agenda to strategically re-emphasize its competitive advantages, especially the youth great capacities,” the King stressed.
He revealed that Jordan's economic strategy for the next five years aims to ensure sustainability, continuity, and economic growth while giving priority to sectors that rely on manpower.
King Abdullah also stressed that his country works continuously with the international community to provide financial flexibility necessary for economic growth, adding that receiving concessional financing is necessary to achieve this goal.
The conference was attended by representatives of more than 60 countries, major international institutions, in addition to leaders of international financial institutions and from the private sector.
The Hashemite Kingdom received financial aid worth about $3.6 billion after the UK, France, and Japan’s governments pledged to provide aid, grants, and loans to the country.
The UK announced taking bilateral support to Jordan up to £650 million over five years, a doubling of the UK’s previous funding. In addition, the UK will underwrite a $250 million World Bank loan to Jordan. Over the last five years, the UK’s support was around £300 million to Jordan.
France, for its part, provided one billion euros ($1.1 billion) to Jordan in the form of loans and grants over the next four years, announced State Secretary for Economy and Finance at the French Ministry for the Economy and Finance Agnès Pannier-Runacher.
While Japan announced its intention to provide Jordan with a $100 million- grant and a $300 million loan.
