The Iraqi Government is to extend an oil grant of $25mn to Jordan which is facing a number of economic challenges, Jordan’s Minister of State for Media Affairs and Communications Muhammad al-Mumani announced on 3 September. The minister added that the kingdom looks forward to boosting economic relations with Iraq, particularly with regard to the project of building a 1mn b/d oil export pipeline from Basra to ‘Aqaba, which will also supply Jordan’s Zarqa refinery with its feedstock.
To advance the project, Iraq and Jordan on 7 April signed an agreement, which essentially ratifies a framework agreement and memorandum of understanding that were already in place (MEES, 12 April). Last November Iraq also donated 100,000 barrels of crude to Jordan to alleviate the latter’s economic crisis. The kingdom is hosting more than half a million Syrian refugees, has a budget deficit of JD1.31bn ($1.85bn) and public debt of around $23bn. So any outside help to Jordan would be welcome. (CONTINUED - 359 WORDS)
