October 4, 2018 / 9:12 AM / 18 days ago

Saudi Arabia, Kuwait, UAE deposit over $1 bln in Jordan Central Bank - Jordan govt source

AMMAN, Oct 4 (Reuters) - Saudi Arabia, Kuwait and the United Arab Emirates have placed over $1 billion in deposits at the Central Bank of Jordan and committed $500 million in budget support over five years as part of a $2.5 bln package to shore up the kingdom’s struggling economy, a Jordanian government source said.

The source said a signing agreement will take place later on Thursday that announces the breakdown of a $2.5 billion aid package pledged last June to help the Jordan implement austerity measures which had sparked massive protests.

The package also includes $600 million in credit guarantees by the three Gulf countries that will help Jordan secure cheap World Bank credit and other financing for much needed infrastructure projects. (Reporting by Suleiman Al-Khalidi; Editing by Toby Chopra)

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