BRUSSELS: The European Union on Wednesday promised 3 billion euros ($3.1 billion) of financing and investments for Jordan as part of a new “strategic” partnership with the key Middle East ally.
“With the current geopolitical shifts and growing crises in the region, strengthening the EU-Jordan partnership is the right decision at the right time,” European Commission head Ursula von der Leyen said.
Jordan’s King Abdullah II was in Brussels to oversee the signing of the agreement that runs from 2025 through 2027.
His country, which hosts millions of refugees from around neighboring countries, has long been seen by Europe as a vital bulwark of stability in a region wracked by conflict.
That status has become even more important in the face of the war in Gaza and as Syria undergoes an uncertain transition after the ouster of Bashar Assad.
“Jordan is playing a critical role to consolidate the ceasefire in Gaza and the EU acknowledges the importance of Jordan as a regional hub for humanitarian assistance,” von der Leyen said.
“Jordan’s leadership in supporting Syria’s transition highlights its pivotal role in shaping the region’s future.”
Brussels said the package for Jordan would be made up of 640 million euros of grants, one billion euros of grants and 1.4 billion euros of investments.
“The EU is showing its commitment to support Jordan in navigating the current geopolitical challenges, pursuing reforms that drive growth and societal progress,” said von der Leyen.
The EU is desperate for stability in the Middle East and the Mediterranean region as it hopes to avoid major flows of migrants to Europe.
Jordan’s economy has been buffeted by the conflicts across the Middle East, with the IMF saying the crises have dampened growth.