Decision 2020/33 - Further macro-financial assistance to Jordan - EU monitor

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Decision 2020/33 - Further macro-financial assistance to Jordan

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1.

Current status

This decision has been published on January 17, 2020 and entered into force on January 20, 2020.

2.

Key information

official title

Decision (EU) 2020/33 of the European Parliament and of the Council of 15 January 2020 providing further macro-financial assistance to the Hashemite Kingdom of Jordan
 
Legal instrument Decision
Number legal act Decision 2020/33
Original proposal COM(2019)411 EN
CELEX number i 32020D0033

3.

Key dates

Document 15-01-2020; Date of signature
Publication in Official Journal 17-01-2020; OJ L 14 p. 1-7
Effect 20-01-2020; Entry into force Date pub. +3 See Art 9
End of validity 31-12-9999

4.

Legislative text

17.1.2020   

EN

Official Journal of the European Union

L 14/1

 

DECISION (EU) 2020/33 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL

of 15 January 2020

providing further macro-financial assistance to the Hashemite Kingdom of Jordan

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 212(2) thereof,

Having regard to the proposal from the European Commission,

After transmission of the draft legislative act to the national parliaments,

Acting in accordance with the ordinary legislative procedure (1),

Whereas:

 

(1)

Relations between the Union and the Hashemite Kingdom of Jordan (Jordan) are developing within the framework of the European Neighbourhood Policy (ENP). On 24 November 1997, Jordan signed the Euro-Mediterranean Agreement establishing an Association between the European Communities and their Member States, of the one part, and the Hashemite Kingdom of Jordan, of the other part, (2) (the ‘Association Agreement’), which came into force on 1 May 2002. Under the Association Agreement, the Union and Jordan gradually established a Free Trade Area over a transitional period of 12 years. In addition, an Agreement in the form of an Exchange of Letters between the European Community and the Hashemite Kingdom of Jordan concerning reciprocal liberalisation measures and amending the EC-Jordan Association Agreement as well as replacing Annexes I, II, III and IV and Protocols 1 and 2 to that Agreement (3) entered into force in 2007. In 2010, an Advanced Status partnership was agreed between the Union and Jordan that entails expanded areas of cooperation. A protocol between the European Union and the Hashemite Kingdom of Jordan establishing a dispute settlement mechanism applicable to disputes under the trade provisions of the Euro-Mediterranean Agreement establishing an Association between the European Communities and their Member States, of the one part, and the Hashemite Kingdom of Jordan, of the other part, (4) was initialled in December 2009 and entered into force on 1 July 2011. Bilateral political dialogue and economic cooperation have been further developed within the framework of the Association Agreement, the EU-Jordan Partnership Priorities and the Single Support Framework adopted for 2017-2020.

 

(2)

Since 2011, Jordan has embarked on a number of political reforms to strengthen parliamentary democracy and the rule of law. A Constitutional Court and an Independent Election Commission have been set up and a number of major laws, including the Electoral Act and the Political Parties Act, as well as laws on decentralisation and municipalities, have been passed by the Jordanian Parliament. In addition, legislative improvements as regards the independence of the judiciary and women’s rights have been adopted.

 

(3)

The Jordanian economy has suffered significantly from protracted conflicts in the region, notably in neighbouring Iraq and Syria. That regional unrest has taken a heavy toll on external receipts and has strained public finances. Tourism and inflows of foreign direct investment have been negatively affected and trading routes have remained blocked for long periods. Separately, the flow of natural gas from Egypt was disrupted for several years, giving rise to a need to procure energy from alternative sources at a higher cost. In addition, the Jordanian economy has been impacted by a large inflow of Syrian refugees, which has increased pressure on Jordan’s fiscal position, public services and infrastructure.

 

(4)

In August 2016, the Jordanian authorities and the International Monetary Fund (IMF) agreed on a second economic adjustment programme supported by a three-year Extended Fund Facility (EFF) in the amount of USD 723 million, which followed a USD 2 000 million three-year Stand-By Arrangement running from...


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This text has been adopted from EUR-Lex.

5.

Original proposal

 

6.

Sources and disclaimer

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7.

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