Three powerful kingdoms namely, Saudi Arabia, Kuwait and United Arab Emirates on Monday reached a consensus to supply economic aid worth $2.5 billion dollars for Jordan. Jordan had been faced with stern economic crisis ensuing from anti-austerity protests made earlier.
The summit, called by Saudi King Salman, was attended by Jordan’s King Abdullah II along with UAE’s Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum and Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.
The announcement made in a summit held in the Holy city of Makkah includes a deposit in the Jordanian Central Bank. The summit featured the four nations sitting together to make decisions favorable to help and assist all represented Kingdom.
Jordan has been in huge debt and its taking necessary measures to prevent more debt which can further plunder its economic growth. In 2016, Jordan collected a loan of $723 million from the International Monetary Fund (IMF)
Jordan authorities says the reason for its economic crisis hinges on its reception of refugees especially from war-torn Syria and they’ve not recieved enough support from top nations.
The United States and Saudi Arabia are the two biggest support structure Jordan has in recent years.