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FINANCIAL NEWS
MENA’s unrest threatens infrastructure investment: WB
25 May 2011
(MENAFN) World Bank’s lead infrastructure specialist for the region, Raymond Bourdeaux, said that due to the consequences of the recent political turmoil, decreasing the funding gap of a yearly USD40 billion in infrastructure investment in the Arab world would become more difficult, reported The National.
Bourdeaux added that the bank along with other organizations would aim to raise about USD1 billion for the most needed projects in the Middle East and North Africa (MENA) that would involve the infrastructure sector.
He also said that the World Bank considered investment in hospitals, schools, roads and other public services as a way to reduce social tensions and laying foundations for economic growth, however, spending in this sector in some countries that went through political unrest was tightened.
It is worth noting that discontent with poor public services contributed in fuelling recent social unrest in the region, in those countries affected by turmoil, there would be a possible rethinking of where to direct infrastructure funding.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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