Jordan Secures $400M Saudi Grant

A winding road in Jordan. Saudi Arabia will provide a $400 million grant to finance infrastructure and other projects in Jordan. Photo by: HikrChick / CC BY-NC-SA HikrChickCC BY-NC-SA

Saudi Arabia will provide a $400 million grant to help improve fiscal stability in Jordan, whose budget deficit widened after it increased its social spending in February.

The grant will be spent for infrastructure projects and other capital expenses that were curtailed after the government allocated more funding for a social package when it revised its budget earlier this year, Reuters reports, citing Mohammad Abu Hammour, Jordan’s finance minister.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.