Amman, September 17 (QNA) – The European Commission (EC) announced Wednesday the disbursement of the first tranche of EUR 250 million of its Macro-Financial Assistance (MFA) program to Jordan, as part of the fourth EUR 500 million assistance program.

The disbursement follows the signing of a Memorandum of Understanding (MoU) between the European Union (EU) and Jordan on Aug. 25, which outlines the agreed reforms and policy measures as the basis for implementing the assistance.

The program aims to support the comprehensive strategic partnership between the European Union (EU) and Jordan, promote economic stability and sustainable growth, and support Jordan’s reform process.

The European Commission (EC) confirmed that the disbursement of the first tranche came after Jordan met the preconditions, namely continued respect for democratic principles, the rule of law, and human rights, and maintaining a satisfactory record under the International Monetary Fund (IMF) program.

The remaining two tranches, amounting to EUR 150 million and EUR 100 million, are scheduled to be disbursed over a period of up to two and a half years, and are linked to the effective and timely implementation of the measures agreed upon in the Memorandum of Understanding (MoU).

The agreed-upon reforms include strengthening the economy in key areas such as public financial management, governance and anti-corruption, social protection and labor market policies, green transformation, and improving the business environment. (QNA)