USAID grants $250m to support economic development

The United States Agency for International Development (USAID) and the government signed a $250 million memorandum on Sunday to support economic development in Jordan over the next five years.
The agreement, which was signed by government delegates and USAID mission director for Jordan Beth Paige, aims at stimulating economic growth, helping to restore fiscal balance, diversification of energy sources, supporting energy efficiency, increasing competitiveness, improving the skills of the labor force in Jordan, along with increasing trade and creating new jobs.
The USAID director said that in light of unstable conditions in the region and the American government’s keenness for Jordan to remain strong and stable, the agreement will expand efforts to accelerate overall economic development in different regions of the Kingdom.
Further, the American government will launch a project to support local institutions in Amman and Zarqa, northeast of Amman, to stimulate economic growth in underprivileged areas through supporting small businesses and micro enterprises in local communities.