JEDDAH CITY, Saudi Arabia

US President Joe Biden pledged on Saturday to provide Jordan with $1.45 billion in assistance per year.

The pledge was made in a joint statement issued following a meeting between Biden and Jordanian King Abdullah II on the sideline of a US-Arab summit in the Saudi city of Jeddah.

The statement said Biden announced his intention to sign a memorandum of understanding (MOU) for assistance for Jordan with a value of $1.45 billion per year beginning in 2023 and ending in 2029.

"The MOU is designed to address Jordan's extraordinary needs, supports King Abdullah II's economic reform program, and ensure the long-term strength of the close partnership between the United States and Jordan,” the statement said.

“The MOU represents a major US political commitment to Jordan’s stability and the durability of the partnership,” it added.

According to the statement, both leaders "highlighted the strong defense partnership between the two countries, and reiterated commitment to their partnership in the fight against terrorism."

Biden is scheduled to conclude a 4-day trip to the Middle East region later Saturday that included Saudi Arabia, Israel, and the West Bank. The tour is seen as a US attempt to assert leadership in the region against Russia and China.

*Writing by Ahmed Asmar