U.S. grants Jordan US$50m

U.S. grants Jordan US$50m

AMMAN (AFP): Jordan received a US$50-million economic and
development assistance grant from the United States on Tuesday to
support its balance of payments, the U.S. embassy said in a
statement.

The funds will help "support Jordan's ongoing economic
restructuring and reform process, promote investment, stimulate
trade, generate employment and increase household income," the
statement said.

The grant is the last portion of an overall economic
assistance package for the year 2001 valued at $150 million, the
statement said.

Washington grants Jordan annual economic aid of $150 million
and military assistance estimated at between $50 and 75 million.

The countries signed a free trade agreement in October aimed
at boosting U.S. investment in the kingdom.