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EU disburses €250 million in Macro-Financial Assistance to Jordan

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The European Commission, on behalf of the EU, has disbursed €250 million in macro-financial assistance (MFA) to Jordan. The disbursement is partly from the €3 billion emergency MFA package for ten enlargement and neighbourhood partners, which aims to help them limit the economic fallout of the COVID-19 pandemic (COVID-19 MFA programme), and partly from Jordan's €500 million third MFA programme (MFA-III programme), which was approved in January 2020. The first €250 million disbursement to Jordan under these two MFA programmes took place in November 2020.

Economy Commissioner Paolo Gentiloni said: “Today's disbursement of €250m is testament to the European Union's ongoing solidarity with the Jordanian people. These funds, released following the fulfilment of the agreed policy commitments, will help the Jordanian economy to emerge from the shock caused by the COVID-19 pandemic.”

Jordan has fulfilled the policy conditions agreed with the EU for the release of the €250 million disbursement under the COVID-19 MFA programme and the MFA-III programme. These included important measures to improve public finance management, accountability in the water sector, measures to increase labour market participation and measures to strengthen good governance.

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In addition, Jordan continues to satisfy the pre-conditions for the granting of MFA as regards the respect of human rights and effective democratic mechanisms, including a multi-party parliamentary system and the rule of law; as well as a satisfactory track record under the IMF programme. 

With today's disbursement, the EU has successfully completed four out of the 10 MFA programmes in the €3 billion COVID-19 MFA package. Furthermore, the third and final tranche of the MFA-III programme to Jordan, amounting to €200 million, will follow once Jordan fulfils the agreed commitments.

The Commission continues to work closely with all its MFA partners on the timely implementation of the agreed policy programmes.

Background

MFA is part of the EU's wider engagement with neighbouring and enlargement partners and is intended as an exceptional crisis response instrument. It is available to enlargement and EU neighbourhood partners experiencing severe balance-of-payments problems. It demonstrates the EU's solidarity with these partners and the support of effective policies at a time of unprecedented crisis.

The decision to provide MFA to ten enlargement and neighbourhood partners in the context of the COVID-19 pandemic was proposed by the Commission on 22 April 2020 and adopted by the European Parliament and the Council on 25 May 2020.

In addition to MFA, the EU supports the partners in its Neighbourhood policy and the Western Balkans through several other instruments, including humanitarian aid, budget support, thematic programmes, technical assistance, blending facilities and guarantees from the European Fund for Sustainable Development to support investment in the sectors most affected by the coronavirus pandemic.

EU-Jordan relations

This MFA programme is part of a comprehensive effort by the EU to help Jordan mitigate the economic and social impact of regional conflicts and the presence of a large number of Syrian refugees, which has since been compounded by the COVID-19 pandemic. This engagement is in accordance with the EU-Jordan Partnership Priorities (currently being updated), as confirmed during the fifth Brussels Conference on the Future of Syria and the Region on 29-30 March 2021 and the EU-Jordan Association Committee on 31 May 2021.

Overall, the EU mobilised more than €3.3 billion for Jordan since the beginning of the Syrian crisis in 2011. In addition to MFA, EU funding in response to the Syrian crisis includes humanitarian assistance, together with longer-term resilience and development support in areas such as education, livelihoods, water, sanitation and health, addressed to Syrian refugees and Jordanian host communities.

More information

Macro-Financial Assistance 

Macro-Financial Assistance to Jordan

COVID-19: Commission proposes €3bn macro-financial assistance package to support ten neighbouring countries

Decision of the European Parliament and of the Council on providing macro‐financial assistance to enlargement and neighbourhood partners in the context of the COVID‐19 pandemic

EU disburses €400m to Jordan, Georgia and Moldova

Follow Commissioner Gentiloni on Twitter: @PaoloGentiloni

Follow DG ECFIN on Twitter: @ecfin

European Commission

InvestEU: Commission appoints Investment Committee

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The European Commission on Tuesday, 27 July, appointed 12 external experts as members of the Investment Committee of the InvestEU Fund for a term of four years. The 12 members of the Investment Committee – four permanent and eight non-permanent members – were selected and appointed by the Commission at the recommendation of the InvestEU Steering Board. They represent a broad knowledge and expertise in the relevant fields and sectors covered by the InvestEU programme. The Investment Committee will be gender-balanced and include members from across the EU to ensure deep insights in geographic markets in the EU.

The appointment of the independent Investment Committee is another milestone for the implementation of the InvestEU programme, which will provide the EU with crucial long-term funding, crowding in the necessary important private investments in support of a sustainable recovery and helping build a greener, more digital and more resilient European economy. The Investment Committee decides on the granting of the EU guarantee to investment and financing operations proposed by the implementing partners under the InvestEU programme. The fully independent Committee is taking its decisions based on the guarantee request form and scoreboard provided by the implementing partners to ensure compliance with the InvestEU Regulation and the Investment Guidelines. The Investment Committee will operate in four compositions, corresponding to the four policy windows of the InvestEU programme: sustainable infrastructure; research, innovation and digitalisation; small and medium-sized companies; and social investment and skills.

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Cybersecurity: All EU member states commit to build a quantum communication infrastructure

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With the latest signature by Ireland of the political declaration to boost European capabilities in quantum technologies, cybersecurity and industrial competitiveness, all Member States have now committed to work together, along with the European Commission and the European Space Agency, to build the EuroQCI, a secure quantum communication infrastructure that will span the whole EU. Such high-performing, secure communications networks will be essential to meeting Europe's cybersecurity needs in the years to come. A Europe fit for the Digital Age Executive Vice President Margrethe Vestager said: “I am very happy to see all EU Member States come together to sign the EuroQCI declaration – European Quantum Communication infrastructure initiative - a very solid basis for Europe's plans to become a major player in quantum communications. As such, I encourage them all to be ambitious in their activities, as strong national networks will be the foundation of the EuroQCI.”

Internal Market Commissioner Thierry Breton added: “As we have recently seen, cybersecurity is more than ever a crucial component of our digital sovereignty. I am very pleased to see that all member states are now part of the EuroQCI initiative, a key component of our forthcoming secure connectivity initiative, which will allow all Europeans to have access to protected, reliable communication services.”

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European Commission

Fisheries: EU and Cook Islands agree to continue their sustainable fisheries partnership

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The European Union and the Cook Islands have agreed to continue their successful fisheries partnership as part of the Sustainable Fisheries Partnership Agreement, for a duration of three years. The agreement allows EU fishing vessels operating in the Western and Central Pacific Ocean to continue fishing in the Cook Islands fishing grounds. Environment, Oceans and Fisheries CommissionerVirginijus Sinkevičius said: “With the renewal of this Fisheries Protocol, European Union vessels will be able to continue fishing one of the healthiest tropical tuna stocks. We are particularly proud to contribute, through our sectoral support, to the development of the Cook Islands' fisheries sector - a Small Island Developing State that has been often praised for its effective and responsible fisheries management policies. This is how the EU's Sustainable Fisheries Partnership Agreements work in practice.”

In the framework of the new Protocol, the EU and ship owners will contribute with a total up to approximately €4 million (NZD 6.8m) for the next three years, of which €1m (NZD 1.7m) to support the Cook Islands' initiatives within the sectoral fisheries and maritime policy. Overall, next to improvements in the fishing sector, the revenue obtained from this Agreement has previously allowed the Cook Islands' government to improve its social welfare system. More information is in the news item.

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