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…
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…
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…
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…
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…
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…