Arab League hails Gulf aid in support of Jordan's economy

Source: Xinhua| 2018-06-12 05:35:40|Editor: Mu Xuequan
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CAIRO, June 11 (Xinhua) -- The Arab League (AL) welcomed on Monday the Mecca Summit which brought an aid package totalling 2.5 billion U.S. dollars for Jordan's ailing economy.

Ahmed Aboul-Gheit, secretary-general of the AL, expressed his gratitude and appreciation of Saudi Arabia's efforts in fostering the Arab solidarity.

The summit reflected the spirit of cooperation among the Arab countries in face of common challenges at this critical phase in Arab history, Aboul-Gheit said, expressing AL's solidarity with Jordan to overcome its current crisis.

Earlier in the day, Saudi Arabia, Kuwait and the United Arab Emirates pledged 2.5 billion dollars in support of Jordan's economy.

The aid includes a deposit at the Central Bank of Jordan, guarantees to be presented to the World Bank in favor of Jordan, budget support for five years and funding of development projects.

The aid was announced after protests were held across Jordan over the country's economic policies and difficult financial and economic conditions.

In return, Jordan voiced appreciation for the aid from Gulf countries, saying it will help address challenges the country is going through.

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