The European Commission has adopted a proposal for a new macro-financial assistance programme to Jordan worth up to €500 million.

The proposal will support Jordan’s King Abdullah II with his wide-ranging reform agenda, which includes promoting jobs, economic growth, and investment.

The new programme will build on two previous Ministry of Foreign Affairs programmes through which the EU has disbursed a total of €380 million to Jordan since 2011.

The Commission’s proposal for a third MFA programme with Jordan is subject to the approval of the European Parliament and of the EU Council.

The macro-financial assistance is intended as an exceptional EU crisis response instrument and is available to EU neighbourhood countries experiencing severe balance-of-payment problems.

Under the European Neighborhood Policy Action Plan, the Hashemite Kingdom is in an “advanced status” partnership with the EU, with the latter far outpacing other economic blocs as Jordan’s main trading partner.

In addition to its close trade relations with the European Union, Jordan is one of 18 countries officially designated as a major non-NATO ally, or MNNA – a distinction the country shares with its Middle East neighbours Israel, Egypt, Bahrain, Kuwait, Morocco, and Tunisia.