|
(Joint
Press Statement Between Minister of Planning & International
Cooperation and the Ambassador of
Japan
in
Amman)
Ms. Suhair Al-Ali,
Minister of Planning and International Cooperation and Mr. Koichi
Obata, Japanese Ambassador have announced today,
5 July 2005
, the agreement to
utilize an amount of JD51.22 million to finance part of
Jordan
’s needs for Crude Oil.
The amount is
drawn from the Japanese-Jordanian Counterpart Fund. The Fund was
established through the deposits generated from the sales of
commodities, which were procured through Japanese Grant Aid, to be
utilized for economic and social development purposes in
Jordan
.
The continuous
increase in international oil prices has resulted in a significant
increase in
Jordan
’s oil bill. The
agreement aims at maintaining Jordan’s fiscal stability through
mitigating the financial difficulties caused by the continuous
increase in international oil prices, and supporting its efforts to
implement a wide range of social and economic reform.
Minister Al-Ali
expressed the Government of Jordan’s appreciation for the Government
and people of
Japan
for this agreement and
the continued support to
Jordan
throughout its
development process.
Japan
’s invaluable support
has enabled
Jordan
to sustain its reform
momentum and achieve a favorable performance in many socio-economic
spheres.
Ambassador Obata
said that this agreement reflects the distinguished existing relations
between the two countries.
Japan
is committed to continue
supporting
Jordan
in overcoming the
current challenges imposed by regional instability and the increase in
oil prices. Moreover, today’s agreement is expected to contribute to
supporting the Government of Jordan’s ongoing efforts for achieving
sustainable growth and development.
It
is worth mentioning that the crude oil quantities to be provided under
this agreement will constitute around 6% of
Jordan
’s
total annual needs of crude oil. |