UAE urges G8, IMF to fulfill Arab Spring pledges

Very little of $73 billion in financing promised to Tunisia, Egypt, Morocco, Jordan has been handed over by int'l organizations.

By REUTERS
February 9, 2012 16:55
1 minute read.
Protests in Morocco

Protests in Morocco 311. (photo credit: (Reuters))

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

ABU DHABI - The United Arab Emirates urged the international community on Thursday to deliver on pledges of billions of dollars of aid that was promised to Arab countries after last year's uprisings but has not been disbursed.

In September, the Group of Eight major nations pledged $38 billion in financing to Tunisia, Egypt, Morocco and Jordan over 2011-13 under the "Deauville Initiative." The International Monetary Fund promised a further $35 billion to countries affected by Arab Spring unrest.

Be the first to know - Join our Facebook page.


But very little of that money has actually been handed over, as political instability in needy countries deters some donor governments and institutions, and as other donors struggle with budget pressures of their own.

"We call upon the international community to begin implementing the items set by the Deauville statement, particularly with regards to funding amounts specified," said Younis Haji al-Khouri, undersecretary at the UAE's Ministry of Finance.

He was speaking to a meeting of officials from the G8, Arab states and multilateral lending institutions in Abu Dhabi to discuss economic development after the Arab Spring. Half of the $38 billion is supposed to be provided by G8 and wealthy Arab states, and half by multilateral lenders such as the World Bank.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

A demonstrator holds picture of Saudi journalist Jamal Khashoggi during a protest in front of Saudi
November 21, 2018
Turkey: U.S. is turning blind eye to Saudi killing of Khashoggi

By REUTERS