AMMAN, Jordan, June 22 (UPI) -- Jordan Tuesday received two U.S. donations worth $119.05 million to help boost the Jordanian economy.
The donations, which constituted the last part of a package of U.S. assistance to Jordan estimated at $348.5 million in 2004, were given under an agreement signed by U.S. Ambassador in Amman Edward Ghunaim, USAID chief in Jordan David Barth and Jordanian Planning Minister Bassem Awadallah.
The agreement calls for the U.S. government to offer $100 million to boost the balance of payments, alleviate foreign public debt and reinforce Jordan's foreign currency reserves.
In return, the Jordan will allocate a similar sum in the local currency to carry out programs for economic and social reforms.
The remaining $19.05 million would be used for encouraging foreign investments in Jordan.
Jordan benefits greatly from U.S. assistance which was calculated at $2.3 billion over the past decade.
