Jordan: The European Commission adopts a €500 million Macro-Financial Assistance
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MFA is a form of financial aid extended by the EU to partner countries experiencing a balance of payments crisis. The Commission’s proposal aims to provide support Jordanian government and to the new reforn agenda focused on investment, growth and employment.
The new programme would build on the two previous MFA programmes through which the EU has disbursed a total of €380 million to Jordan since 2011.
A recent evaluation on the implementation of MFA operations concluded that the first MFA programme was relevant to Jordan’s economic challenges and in line with the EU’s priorities. The evaluation also found that the programme was implemented efficiently and in close coordination with the Jordanian authorities, helped preserve macro-economic stability, and had a positive social impact.
MFA funds are made available in the form of low-interest, long-term loans. Disbursements under the proposed programme would be strictly conditional on the implementation of specific policy conditionality to be agreed between the EU and Jordan, and set out in a Memorandum of Understanding.