Author Archives: Insoo Yoon

Concessional Financing Facility Funds Projects to Support Refugees and Host Communities Impacted by the Syrian Crisis

BEIRUT The Concessional Financing Facility (CFF), an international initiative to address the impacts of the Syrian refugee crisis, announced the first financing today to support refugees and host communities in Jordan and Lebanon. Only three months after a pledging session in Washington, DC that raised over US$140 million in initial grant contributions, and US$1 billion pledged in loans that…

International Community Endorses New Initiative to Support Refugees, Host Communities, Recovery and Reconstruction in the Middle East and North Africa

Eight nations and the European Commission today pledged a package of more than US$1 billion — US$141 million in grants, US$1 billion in soft loans, US$500 million in guarantees – to a World Bank-led financing initiative in support of Syrian refugees and host communities in Jordan and Lebanon, as well as recovery and reconstruction across…

Investing in a more stable and prosperous Middle East

Conflict has created a regional crisis so severe in the Middle East and North Africa (MENA) that it now has global implications. The more than 15 million people displaced, as refugees and internally-displaced persons, by conflicts such as Syria’s have come to represent the highest figure for forced displacement since World War II in the…

Mobilizing Resources to Restore Hope in the Middle East and North Africa Region

The World Bank Group is partnering with the United Nations and the Islamic Development Bank Group to develop the New Financing Initiative to Support the Middle East and North Africa (MENA) Region, which aims to provide urgent development support to MENA countries impacted by the Syrian refugee crisis, conflict, and economic instability. The heads of…

Heads of World Bank Group and United Nations to Visit Lebanon, Jordan and Tunisia

World Bank Group President Jim Yong Kim and United Nations Secretary General Ban Ki-Moon will visit Lebanon, Jordan and Tunisia from March 24 to 28. In Lebanon, they will be joined by the President of the Islamic Development Bank Group Dr. Mohammed Ali Al-Madani. The joint visit aims to communicate the international community’s commitment to…

Financing to Promote Peace and Stability in the Middle East and North Africa

In addition to the devastating magnitude of human suffering, the last four years of instability in the Middle East and North Africa have taken a massive economic toll that threatens the long-term prospects of the region. Going forward, any potential political solutions will have to be accompanied by the substantial funding needed to consolidate peace…

New Joint Initiative to Mobilize Additional Support for Refugees, Recovery, and Reconstruction in the Middle East and North Africa

The Secretary General of the United Nations and the Presidents of the World Bank Group and the Islamic Development Bank Group announced today a joint initiative to scale-up financing in the Middle East and North Africa to help countries hosting significant refugee populations, countries impacted by conflict, as well as countries that have significant investment…