Jordan signs agreement with the EU, supported by an investment package worth $3.1 billion
On Wednesday, the European Union (EU) promised to give $3.1 billion (EUR 3 billion) in funding and investments to Jordan as part of a new “strategic” partnership with the country, which is an important ally in the Middle East.
EU-Jordan Partnership
The EU is increasing its investment in Jordan, which will last until 2027, due to the urgent challenges in the Middle East. European Commission President Ursula von der Leyen announced this in a statement on Wednesday.
This includes $664.7 million in grants, $1.5 billion in investments, and $1 billion in financial aid.
The partnership will focus on three main goals: supporting Jordan’s stability, helping King Abdullah II’s political and modernization plans, and encouraging economic growth.
It will aim to promote growth by attracting investments in areas like digital technology, green energy, sustainable tourism, mining, fertilizers, and medicine. The EU wants to boost sustainable trade and encourage more private sector involvement, including more European investors.
The partnership will also increase people-to-people contacts, encourage more civil society involvement, and support Jordan’s participation in EU programs.
Both the EU and Jordan plan to work together to promote security, democracy, and human rights in the Middle East and Mediterranean. They will hold an EU-Jordan Summit every two years and have other regular meetings.
Jordan is an important partner for Europe in the region. It has helped millions of refugees and played a key role in keeping peace in Gaza.
The EU and Jordan will also work on improving their security and defense cooperation. They will focus on shared challenges like terrorism, hybrid threats, and drug trafficking. The EU will continue to support the Jordanian Armed Forces through programs like the European Peace Facility.
The EU will also help with reforms to improve economic growth and job creation in Jordan. Both countries plan to work together on creating jobs and bridging skills gaps. They will also focus on improving border management, especially against smuggling and human trafficking.
Big Numbers
In 2024, Jordan hosted about 1.3 million Syrians, with nearly 670,000 registered as refugees with the UN.
Economic Impact
While refugees have helped Jordan’s economy by increasing consumer demand and labor force participation, they have also put extra pressure on public services and infrastructure, according to the World Bank.
Access to education has been a major issue, with many Syrian children facing challenges in enrolling in Jordanian schools. Some Jordanians also feel that refugees are competing for jobs.
Employment opportunities for refugees are limited, especially in certain sectors where work permits are restricted. However, Jordan’s government has made efforts to integrate refugees into the labor market by giving them special work permits and supporting other initiatives.
Published: 30th January 2025
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