The IMF Approves a $1.3 billion Aid Plan for Jordan

  • Amman, Hashemite Kingdom of Jordan
  • 26 March 2020

The International Monetary Fund approved a $1.3 billion aid plan for Jordan that spans four years and is now more urgent due to the Covid-19 pandemic.

The two sides agreed on this aid program on January 30, that is, before the new Coronavirus became a pandemic threatening the global economy with catastrophic consequences.

According to IMF, changes were made to the program to cover the non-budgeted expenditures such as health emergencies and medical equipment, indicating that if the consequences of the epidemic were found to be severe enough to jeopardize the program's objectives, then it would be further adapted to changing circumstances, after agreement with the authorities.

The Fund explained that Amman will immediately receive an initial tranche of approximately $140 million, while you will receive the remaining amount in installments over a period of four years, which is the life of the program, which includes eight reviews to study its effectiveness.

In addition to the funds needed to fight the epidemic, the program includes financing structural reforms that include cutting electricity prices for companies and facilitating job opportunities for young people.

Source ( Website, Edited)

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