On Tuesday 17 October, the European Commission approved the disbursement of the first tranche of €100 million as part of the EU's second macrofinancial assistance programme to Jordan.
With a total amount of €200 million, this second macrofinancial assistance programme was approved by the EU Council and European Parliament at the end of 2016 and follows on from an initial programme of €180 million that was approved in 2013 and fully disbursed in 2015. The second tranche of €100 million will be paid in 2018, if Jordan honours the commitments it has made.
This second programme is aimed at strengthening Jordan's foreign exchange reserve position and at helping the country meet its balance of payments and budgetary financing needs. It is also aimed at supporting reforms in a number of areas including public finance management, the tax and social safety net systems, education and professional training, trade policies and active labour market policies to increase employment opportunities for both Jordanian citizens and Syrian refugees living in Jordan.
The assistance is part of a wider effort by the EU to help Jordan and other countries in the region mitigate the repercussions of the Syrian conflict.
Since the start of the Syrian crisis in 2011, the EU has made available more than €1.6 billion under different instruments to help Jordan preserve economic stability, continue its reforms, and address its related humanitarian and security needs.
In addition, the European Investment Bank has made €264 million available to Jordan in loans.
Coming in addition to the assistance from the International Monetary Fund, the EU's macrofinancial assistance is an exceptional instrument to respond to the crisis, and is available to neighbouring partner countries experiencing serious balance of payments problems. (Original version in French by Emmanuel Hagry)