World Bank Calls For Greater Support For Arab States

Member countries of the World Bank have called for strengthening the Bank's support for the Middle East and North Africa, according to a joint declaration after a meeting in Washington. A statement of the Development Committee - namely the political body which plays an advisory role to the World Bank and International Monetary Fund, said that 'recent events in some parts of the Middle East and North Africa will have adverse social and economic standing, but that will vary from one country to another.'
'We ask the World Bank to strengthen its support for the Middle East and North Africa in cooperation with national authorities and the relevant multi-lateral, regional and bilateral organizations,' The Committee added.
It also praised the member states' rapid interventions and the advisories extended by the World Bank Group and International Monetary Fund, especially support programs and strategies in the areas of labor and social safety and budget management, governance and promotion of development in the private sector as in other core areas.'