Economics
Saudi Arabia, Two Gulf States Pledge $2.5 Billion Jordan Aid
- Kuwait, U.A.E. join Saudi Arabia in providing support
- Package follows four-way meeting in Saudi city of Mecca
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Saudi Arabia and two Persian Gulf nations pledged $2.5 billion to help support Jordan’s economy after a proposed income-tax increase sparked some of the largest protests since the Arab Spring in 2011.
The package of aid will include a deposit in the Central Bank of Jordan, guarantees to the World Bank on Jordan and annual support for the Jordanian government’s budget for five years, according to a statement posted on the state-run Saudi Press Agency website.