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Saudi Arabia has deposited $334 mln in Jordan central bank

Published: Updated:

Saudi Arabia has deposited $334 million in Jordan’s central bank and is working with Kuwait and the United Arab Emirates for more financial support, Saudi Finance Minister Mohammed al-Jadaan has said.

“We have agreed to support Jordan through the Arab Fund, and we are discussing additional support with our brothers in Kuwait and the UAE,” al-Jadaan told Al Arabiya during the sidelines of the “Jordan: Growth and Opportunity” conference held in London.

Saudi Arabia alongside Kuwait and the United Arab Emirates put together a $2.5 billion package in June to help shore up Jordan’s struggling economy.

Jordan’s government fell last year after spending cuts and tax rises imposed under an IMF programme caused rare public protests. The country, which sits between Israel, Syria, Iraq and Saudi Arabia, is traditionally a regional diplomatic hub.