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Jordan receives $400 million grant from Saudi Arabia

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Jordan receives $400 million grant from Saudi Arabia

2011-06-03 02:18:34 GMT+7 (ICT)

AMMAN, JORDAN (BNO NEWS) -- Jordan on Thursday received a grant of 400 million dollars from Saudi Arabia, Finance Minister Mohammad Abu Hammour said.

According to the state-run Petra news agency, Abu Hammour thanked the Saudi government in a statement for its ongoing support of Jordan in various spheres. He said the grant is particularly needed for implementing capital projects on the state budget and would reflect on the level and quality of services and ease some of the budgetary strains.

The sum is part of grants projected by the 2011 budget.

The Kingdom has been facing severe economic issues this year. In early February, King Abdullah II approved a new 27-member cabinet after protesters called for the resignation of then-current prime minister Samir Rifai and his government. The previous government was blamed for price hikes, excessive taxation, unemployment, and difficult economic conditions.

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-- © BNO News All rights reserved 2011-06-03

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