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Lebanon and Jordan to receive $200m amidst Syrian conflict

08 February 2016


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Jordan and Lebanon will receive $200 million in concessional finance from the World Bank to create jobs and access to education, for shouldering the burden of refugees from Syria.

 

“We’re also looking at raising $1 billion from private sector donors, which will then be leveraged to supply $3 to $4 billion to help fund public service delivery,” His Excellency Jim Yong Kim, President of The World Bank Group, told the World Government Summit.

 

This would triple financing initiatives into the region to about $20 billion, he added.  

 

Kim pointed out that 15 million people have been displaced due to conflicts in the Middle East and North Africa.

 

“Violent extremists are using these challenging circumstances to rallying recruits to their cause with global implications, he said, pointing out that those who feel excluded from or aggrieved by society, studied hard but couldn’t find a job, could give people powerful motivations to challenge what they see as their source of troubles.

 

"Governments that operate in opaque, exclusive and unaccountable ways, or fail to empower local authorities, often plant the seeds of discontent."

 

The solution, he mentioned, was inclusive governance displaying transparency and dialogue.

 

“The UAE and Tunisia prove its possible,” he said, highlighting three points governments should do: be transparent in their actions and fully engaged; invest in their people to reach their full potential, and create business environments that create innovations and competition in turn creating economic growth.