Business

King Abdullah says the world needs ‘strong and prosperous’ Jordan

King Abdullah of Jordan at the conference in London

PM Theresa May At the Growth and Opportunity conference with the King of Jordan

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King Abdullah of Jordan said on Thursday that the world understands the need for his country to be “strong and prosperous.”

The king was speaking at an international conference in London to support investment in the Jordan.

The king said regional turmoil, the Syrian refugee crisis, global financial crash and high energy prices had hampered the success of Jordan’s reforms.

“Yet, throughout these challenges, Jordan remained secure, strong, and a centrepiece for the values that our world depends on,” King Abdullah told delegates at the Jordan Growth and Opportunity conference.

After meeting the king at Downing Street, Prime Minister Theresa May set out an increased UK aid package to help Jordan’s economy become more self-sufficient.

In a change to her current schedule, dominated by Brexit, any non-brexit business must seem like a breath of fresh air for the Prime Minister.

In her speech, Prime Minister Theresa May called on CEOs and international partners to step up their investment in Jordan.

King Abdullah of Jordan and his wife Queen Rania have a private audience with Queen at Buckingham Palace

King Abdullah of Jordan and his wife Queen Rania have a private audience with Queen at Buckingham Palace

The move takes the UK’s bilateral support to Jordan up to £650 million ($860 million) over five years. The UK will also underwrite a $250 million World Bank loan to Jordan.

The European Investment Bank said it would extend €870 million ($990 million) of loans and grants for the next two years to support infrastructure and the development of the private sector.

PM Theresa May At the Growth and Opportunity conference with the King of Jordan

Saudi Arabia’s Finance Minister Mohammed Al-Jadaan,  told delegates “The World is telling you we are with you and we will support you, particularly the GCC countries and what they doing in relation to this.”

The conference was also attended by Jordanian Prime Minister Omar Razzaz, US Treasury Secretary Steven Mnuchin and leaders from the world bank and EU foreign affairs committee.

Jordan is one of the closest allies for Western countries in the Middle East and seen as a key partner in trade and security.

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