Saudi Arabia deposits $334m in Jordan central bank

DUBAI: Saudi Arabia has deposited $334 million (Dh1.2 billion) in Jordan’s central bank and is working with Kuwait and the UAE for more financial support, finance minister Mohammed Al Jadaan was quoted by broadcaster Al Arabiya as saying.

Saudi Arabia alongside Kuwait and the UAE put together a $2.5 billion package in June to help shore up Jordan’s struggling economy.

Jordan’s government fell last year after spending cuts and tax rises imposed under an IMF programme caused rare public protests. The country, which sits between Israel, Syria, Iraq and Saudi Arabia, is traditionally a regional diplomatic hub.