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EU to provide Jordan with 747 million euros

Xinhua, July 21, 2016 Adjust font size:

Jordan on Wednesday signed an agreement with the EU under which the latter will provide the country with 747 million euros.

The aid includes loans and grants as well as technical and humanitarian assistance, Minister of Planning and International Cooperation Emad Fakhoury said Wednesday at a press conference in Amman.

The aid will be extended between 2016-2017.

He said the aid will help reduce pressure on the Jordanian economy amidst regional conditions and influx of refugees.

Also Wednesday, the minister said the EU agrees to reduce rules of origin for Jordan.

"This agreement helps increase Jordanian export to the EU as it reduces the required volume of added value in Jordanian exports, which will help businesses," he said.

The decision will also help create jobs for Jordanians and Syrian refugees in the country, he added. Endit