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EU Pledges $23.5 Million Aid to Ease Jordan's Economic Woes

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EU Pledges $23.5 Million Aid to Ease Jordan's Economic Woes MONDAY, JUNE 11, 2018 08 EU pledges $23.5 million aid to ease Jordan’s economic woes Financial assistance comes in the wake of protests that led to the prime minister’s resignation Cash-strapped Jordan,• a close Jordan pins hopes on aid This is a country that US ally that relies has a vital role to package by Gulf states heavily on donors, is play in the region. struggling to rein in Reuters|Amman other nations to set up the You will have always meeting in the holy city of the EU at your side ordan is pinning hopes on Mecca, with speculation that AFP|Amman fully supporting your JGulf states led by Saudi an aid package could be an - reform work. The Arabia committing to a mul- nounced. Officials are hopeful uropean Union foreign funds would address ti-billion dollar aid package to Jeddah meeting will approve policy chief Federica in particular the help it weather an economic a major package in line with a EMogherini announced needs of Jordanians crisis that sparked rare street previous $5 billion fund allo- Sunday 20 million euros ($23.5 protests over austerity plans, cated to Jordan by Gulf mon- million) in aid for Jordan fol- that are particularly officials said. archies in December 2011 to lowing a wave of anti-austerity vulnerable Jordan’s King Abdullah II contain pro-democracy unrest protests that led to the prime FEDERICA MOGHERINI arrived in Saudi Arabia on Sun- that spread across the region. minister’s resignation. day for a crucial four-nation The funds that were tied to EU FOREIGN POLICY CHIEF The EU will support Jordan Federica Mogherini meeting focused on supporting developments projects had “with all possible means at our Amman to tackle an economic helped spur its aid-dependent disposal including economic and ans that are particularly vulner- ing in angry protests over tax crisis in the wake of anti-aus- economy. financial means,” Mogherini said able,” Mogherini said. proposals -- later withdrawn prospects” this year, while 18.5 terity protests. An official who requested during a visit to Amman. Cash-strapped Jordan, a close -- that forced prime minister percent of the working age pop- He landed in the Red Sea city anonymity told Reuters a de- “This is a country that has a US ally that relies heavily on do- Hani Mulki to resign on June 4. ulation is unemployed. of Jeddah ahead of his meeting posit to cushion dwindling vital role to play in the region,” nors, is struggling to rein in its Jordan blames its economic Later Sunday Jordan was due later Sunday with leaders of existing reserves of $11.5 bil- she told a news conference. debt after securing a $723-mil- woes on instability rocking the to hold talks in Mecca with one Saudi Arabia, the United Arab lion would have a significant “You will have always the EU lion loan from the International region and the burden of host- of its major donors, Saudi Ara- Emirates and Kuwait, the of- impact on easing pressures on at your side fully supporting Monetary Fund in 2016. ing hundreds of thousands of bia, as well as the United Arab ficial Saudi Press Agency said. a deficit-ridden budget where your reform work.” Austerity measures have seen refugees fleeing war in neigh- Emirates and Kuwait on ways Saudi King Salman had spending goes mainly to covers The funds would “address in prices of basic necessities rise bouring Syria. The World Bank to help Amman overcome its called the rulers of the three public salaries. particular the needs of Jordani- across the kingdom, culminat- says Jordan has “weak growth economic problems. Freed Indian businessman pledges to rise like a phoenix The 75-year-old jewellery tycoon is not allowed to travel outside the UAE TIMELINE OF THE CASE • The gold tycoon owes Dh550m(BD 55m) in August 31, 2015: M.M. I was confident that Aluminium Bahrain employees planting a sapling on the occasion of loans to private banks I would be able to the World Environment Day 2018. The company distributed saplings to Ramachandran is employees and conducted a workshop on ‘Beat Plastic Pollution‘ for all Alba detained by police rise from the ashes employees as part of the observance Khaleej Times| Dubai after receiving five like a phoenix bird. complaints against My wife gave me that strength he owner of Atlas Jewellery, him from 15 banks over TM.M. Ramachandran, who bounced cheques worth RAMACHANDRAN was in a Dubai jail for close to Dh550m (BD 55m) OWNER, ATLAS JEWELLERY three years, has been released on bail, authorities have said. September 1, 2015: Du- such things. The 75-year-old Malayalee “I was confident that I would businessman, who is popularly bai Public Prosecution be able to rise from the ashes known as Atlas Ramachandran, rejects his bail request like a phoenix bird. My wife was jailed in August 2015 for gave me that strength,” Ram- defaulting on multiple loans. September 2, 2015: Atlas achandran said in the interview Confirming the news, Indi- Jewellery assures lend- to Kairali TV. an Ambassador Navdeep Singh ers about repayment Earlier, speaking to Khaleej Suri told Khaleej Times: “We by liquidating assets Times from jail, Ramachandran have worked with relevant au- had said he was not willing to Enterprise Channel Middle-East, the leading publishing house in technology thorities to facilitate his release, in the GCC to settle the give up hope “even for a min- and innovation, held its annual CIO200 event in Burj Al Khalifa Dubai much the same way that we liabilities M.M. Ramachandran ute”. to recognise top Chief Information Officers in the Middle-East, Africa work on a daily basis to provide “When I am released, all my and Turkey. The event saw a technical talk on latest trends in global assistance to so many other In- November 12, 2015: Ra- three private lenders refused energy will be invested into technologies. Dr Jassim Haji, a technology expert and researcher in the dian nationals who may find machandran sentenced to put on hold the cases against paying off my debts...I have not Middle-East, was recognized by the organizers at the event. Haji delivered a speech on Artificial Intelligence and the way it’s changing the world themselves in a difficult situ- to three years jail by a him. cheated anyone and I will not ation.” In his first media interview let anything mar (my) reputa- A source close to the case Dubai court after his release to a Malayalam tion,” Ramachandran said over revealed that as per the terms television channel that aired the phone in a free-wheeling and conditions applied to his February 1, 2018: 22 on Saturday, a visibly frail Ra- interview. ThinkSmart teams up with bail, Ramachandran will not lending banks agree machandran said: “If I had In her first ever media inter- be allowed to travel outside the to sign a standstill some time to negotiate with view on June 19 last year, his UAE. “He still owes money to the banks, everything would’ve wife Indira Ramachandran had Alreef Young Ladies Society private parties and that has to be agreement, putting on been much easier. opened up to Khaleej Times TDT|Bahrain Society basic skills in comput- resolved,” the source said. hold legal proceedings “I have no malice towards about her struggles to fight for er, logical thinking, coding and The gold tycoon owes Dh550 against Ramachandran anyone. My life’s principle is her husband’s release and the hinkSmart for Develop- programming. It will provide million (BD 55m) in loans to pri- to face...challenges and not run difficulties she was facing. “I Tment and Training has professional certifications for vate banks. After long-drawn June, 9, 2018: Authori- away from anything.” don’t even have a steady income signed an agreement with women ICT graduates and pro- negotiations backed by politi- ties confirm Ramachan- Speaking of his time in jail, to pay my rents. But I have to Alreef Young Ladies Society fessionals in cloud computing, cal and diplomatic efforts, 22 dran is released on bail Ramachandran said what both- keep fighting to make sure my to provide basic training to web development, productiv- lending banks signed a standstill ered him was what his fami - husband will soon walk out a young Bahraini women un- ity etc. “The programme will agreement in February this year, ly was going through. “When free man.” der the FORSATI programme. empower the employability putting on hold legal proceed- sumed that his release was im- I was in captivity, I could not Ramachandran and family The pact was signed at Al Reef and productivity for Bahraini ings against him. minent, Ramachandran’s legal speak to my family for over 15 claimed they had assets to liq- Women Society. FORSATI will women,” said Ahmed Al Hu- Though it was widely as - problems were far from over as minutes. There were rules for uidate and pay off the debts. train young women from the jairi, CEO of ThinkSmart. .
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