Amman, Oct 14 (IANS) The European Union agreed to provide 382 million euros in grants to Jordan as the two signed a Memorandum of Understanding (MoU) Monday, state media reported.
The EU will offer Jordan 312 to 382 million euros (396 to 485 million dollars) in assistance from the end of 2014 to 2017 to support Jordan's reform efforts and state budgets, Xinhua quoted Jordan's acting Minister of Planning and International Cooperation Hazem Nasser as saying.
The aid will also be used to finance projects in different fields, the minister added.
Jordan Prime Minister Abdullah Ensour stressed the importance of the grants in helping Jordan overcome its current economy difficulty. The kingdom heavily relies on grants and tourism for supporting its economy.