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PM to address governments, businesses and international
agencies at major London conference on Jordan
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She will outline the UK’s continued commitment to
support Jordan’s economic growth
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PM will urge others to join the UK and invest in
Jordan’s future
will reaffirm the UK’s
commitment to Jordan’s long-term stability and prosperity when
she addresses a major international conference in London
today.
She will call on CEOs and international
partners at the Jordan: Growth & Opportunity conference to
step up their investment in Jordan’s future.
Attendees are expected to include: US
Treasury Secretary Steve Mnuchin, Interim President of the World
Bank , EU Foreign
Affairs Representative , and foreign ministers
from around the world.
The Prime Minister will today announce
further support for Jordan’s ambitious plans for economic
growth.
This will help the country deliver reforms
to create jobs, support entrepreneurs, boost productivity and
help access low interest loans.
The Prime Minister will underline the
importance of supporting Jordan’s economic potential to ensure it
remains a stable country in an unstable
region.
She is expected to
say:
“…unlocking that potential, to enable
Jordan to prosper and remain a beacon of stability, matters to
all of us. Jordan sits at the centre of a region that has faced
turbulence and uncertainty over the last
decade…
“Jordan has been steadfast in the fight
against terrorism. Steadfast as an ally in the Global Coalition
against Daesh. Steadfast in pursuing peace and promoting
stability in the Middle East. For decades, on these, and other
issues, Jordan and the UK have stood side by
side.
“As I told leaders at the first
EU-League of Arab States Summit earlier this week – a stable,
peaceful, prosperous region matters to the UK, Europe and
beyond.”
The PM is also expected to reiterate her
commitment to using Britain’s development programme in the UK’s
national interest and in close partnership with the private
sector – announcing that the UK will underwrite a $250m World
Bank loan to Jordan.
This will help Jordan to borrow money at a
lower rate and manage its national debt. Underwriting the loan
demonstrates confidence in Jordan’s economy that will encourage
further investment, helping the government to implement its
crucial economic reforms.
The UK’s wide-ranging offer of economic
support will include:
- A contribution to a global finance initiative supporting
SMEs, enabling banks to give out more loans to Jordanian
entrepreneurs setting up small and medium-sized businesses.
- Trade experts to advise Jordanian companies looking to invest
in the UK, and British and international companies who want to
export to Jordan. The UK will announce a partnership between the
Bank of England and Central Bank of Jordan to ensure reforms are
introduced smoothly.
- A £14m contribution to a new World Bank-led trust fund for
Jordan. This pools international donations which will be spent on
modernising government systems, promoting exports and making it
easier to do business.
Commenting on the new UK support,
the PM is expected to say:
“This will open the door to
reinvigorating Jordan’s economy, and stimulating the growth
needed to create jobs…
“This is the approach I set out in Cape
Town, this is about working as partners, sharing our skills,
experience and resources to jointly tackle the challenges we face
in a way that delivers global security and
prosperity.
“And that is why this government remains
committed to spending 0.7% of GNI on Official Development
Assistance. We have been and will continue to be a global
champion in this area, spending our aid programme innovatively
and in a way that delivers value for money for the UK tax
payer.”
