|
| |
 |
|
| |
U.S. Ambassador, Mr. Edward W. Gnehm, commends Jordan on its development efforts. |
|
At the Ministry of Planning
Amman, Jordan
The agreement we are signing today provides $138 million in budget support to the government of Jordan to help reduce its international debt burden and strengthen foreign exchange reserves. At the same time, it enables the government to allocate an equal amount of money in local currency to support a variety of development projects in Jordan. We call this a Cash Transfer Agreement, an arrangement that has been a regular feature of the U.S.-Jordan development partnership over the years. We are extremely pleased to be here today able to continue this program.
We expect to make a second Cash Transfer of $100 million later in 2004, bringing the total of our balance of payments support for this year to $238 million. As a result of today’s agreement, 98 million Jordanian dinars will be available to support development programs in the Kingdom. The majority of these funds will be used to support the Jordanian Government's Social and Economic Transformation Program (SETP). The SETP seeks to increase economic growth, raise living standards, and combat poverty and unemployment Specific initiatives that will be financed include: funding for the Abu Zaighan Salt Water Treatment Project; training and re-training of unemployed Jordanians under the Ministry of Labor’s National Training Project; and renovating public schools and introducing information technology into classrooms under the Education Reform for Knowledge Economy Program. The people of the United States are pleased to make this important economic contribution to the people of Jordan. The development program, jointly carried out by our two nations is a fifty-three year partnership. And, it continues to expand, in recognition of the close and lasting friendship of our two peoples. The United States is proud to be Jordan's partner in development initiatives that are shaping this new century. Thank you.
|
