Saudi Arabia, Kuwait and UAE to provide $2.5bn of aid to Jordan

11 June 2018
Financial support agreed after meeting in Mecca

Saudi Arabia, Kuwait and the UAE have agreed to provide a $2.5bn economic aid package to Jordan following a meeting in Mecca on 10 June.

According to a statement issued by the Saudi Press Agency, the aid includes a deposit at Jordan’s central bank, guarantees for the World Bank in the interest of Jordan, annual support for the nation's state budget over the coming five years, and financing for development projects.

The meeting was attended by Saudi Arabia’s King Salman bin Abdulaziz al-Saud, Jordan’s King Abdullah II bin al-Hussein, Kuwait’s Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah, and UAE Vice-President and Prime Minister Sheikh Mohammed bin Rashid al-Maktoum.

There have been mass protests in Amman to oppose planned tax increases and cuts in subsidies on fuel and electricity.

Among the controversial proposals is a draft income tax law that would raise income tax by at least 5 per cent, and company taxes by between 20 and 40 per cent.

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