ABU DHABI, (Pakistan Point News - 14th May, 2020) The Arab Monetary Fund, AMF, disbursed on Thursday the second tranche of the loan within the framework of the Structural Adjustment Facility in the Financial and Banking Sector, contracted with the Jordanian government on 14th February, 2019.
The tranche amounts to approximately US$38 million, aiming to avail resources to help the country implement economic and financial reforms, while strengthening its resilience to various challenges.
The fund is also keen to provide financial and technical support to its member countries during this period in particular, in light of the developments taking place due to the COVID-19, and the ensuing economic and financial repercussions in different aspects.
The AMF assistance in this regard comes as a support to the reform efforts of member countries and the measures they are taking to stimulate the economy and provide liquidity in order to contain the negative effects of the virus outbreak.
The AMF follows closely the developments of the Jordanian economy and the challenges it faces due to the current circumstances, and works through a fruitful partnership with the Jordanian government to help the country contain different challenges in the most effective way. In this respect, the AMF is studying another loan for the Kingdom to support the country’s financial position. The procedures for granting the loan will be completed shortly.
The fund is currently studying financing requests from other member countries, and is processing the requests through expeditious procedures, in order to provide support as quickly as possible, so that the borrowing member countries can meet financing needs and enhance their financial positions to face various challenges, especially in such times.