LONDON (Pakistan Point News / Sputnik - 28th February, 2019) UK Prime Minister Theresa May will announce that London will contribute 14 million Pounds ($18.6 million) for a fund, which will be led by the World Bank, to support Jordan's economy, the prime minister's office said in a statement, shared with Sputnik.
The announcement will be made during the Jordan: Growth & Opportunity conference, which London will host on Thursday.
"Theresa May will reaffirm the UK's commitment to Jordan's long-term stability and prosperity when she addresses a major international conference in London today ... A �14m contribution to a new World Bank-led trust fund for Jordan. This pools international donations which will be spent on modernising government systems, promoting exports and making it easier to do business," the statement read.
May would also announce that London would underwrite a $250 million World Bank loan to Jordan.
London's support for Jordan's economy will also include a contribution to the initiative helping small and medium businesses and ensuring that banks give more loans to such companies. Moreover, trade experts will give advice to Jordanian investors willing to fund enterprises abroad and UK companies seeking to invest in Jordan, according to the statement.
Additionally, London would announce a partnership between the Bank of England and the Central Bank for Jordan for smooth reforms in the middle Eastern country, the statement pointed out.
"Unlocking that potential, to enable Jordan to prosper and remain a beacon of stability, matters to all of us. Jordan sits at the centre of a region that has faced turbulence and uncertainty over the last decade ... Jordan has been steadfast in the fight against terrorism. Steadfast as an ally in the Global Coalition against Daesh [the IS terror group, banned in Russia]. Steadfast in pursuing peace and promoting stability in the Middle East. For decades, on these, and other issues, Jordan and the UK have stood side by side," May is expected to say during the event.
During the conference, May would call on the attendees of the event to boost their investment in Jordan and support the " stable country in an unstable region."
According to the statement, apart from May, the event will be attended by US Treasury Secretary Steve Mnuchin, Interim President of the World Bank, Kristalina Georgieva, EU foreign affairs chief Federica Mogherini and foreign ministers from around the world.
