World Bank & Islamic Development»: bonds to address the refugee crisis 10/14
The World Bank and the Islamic Development»: bonds to address the refugee crisis NEW MORNING ECONOMIC AFFAIRS OCTOBER 13TH, 2015
Background on 15 million people flee from their countries as a result of wars
The capitals of the agencies:
International agencies intends to collect billions of dollars to address the worsening refugee crisis in the Middle East and North Africa through the issuance of new bonds to help displaced persons and to support reconstruction in the war-torn region. And the United Nations, the World Bank and the Islamic Development Bank» this proposal after a meeting of policy makers in Lima, capital of Peru, to find ways to ease the humanitarian and economic crisis caused by the conflicts in countries including Syria, Iraq, Yemen and Libya.
He said the World Bank President Jim Yong Kim said more than 15 million people have fled their homes as a result of wars, resulting in torrential stream of refugees to countries such as Lebanon and Jordan. You are prompted for two-track initiative by donor countries provide guarantees for some Islamic bonds, or sukuk, targeting investors in the region, to raise money for projects ranging from support for refugees to rebuild, and to allow displaced persons to return to their homes.
He said World Bank Vice President for the Middle East and Europe, Hafez Ghanem that he would ask the donors "to provide grants to reduce interest rates to States hosting the bulk of refugees from the commercial rates for the level to zero.
After the meeting, which was held during the annual meetings of the World Bank and the International Monetary Fund, "focusing on the situation in Syria because of what is happening in Europe, but the situation in Yemen is also very dangerous.
The United Nations expects the arrival of hundreds of thousands of immigrants to Europe this year with fleeing war and poverty in the largest wave of refugees since World War II. German reports quoted in this modern context, authorities predicted the arrival of 1.5 million refugees into their territory as a result of the crises and wars.
Ghanem said in the news published in «life», «expression of support came from the G7 and other European countries of the initiative have collected funds billions of dollars over a period of five to ten years ", adding that" instability in the Middle East and North Africa affects the whole world not only displaced but also through terror and volatility in oil prices, so the international community has a stake in this containment and in helping them to regain stability and return to the path of Development and economic growth». A working group will finalize the details of the Fund-raising process proposed by February next year.
In addition, German officials denied and EU officials media report stating that Berlin and Brussels were holding informal talks in a kind of European solidarity tax to help cover the cost of a standard flow of applicants. Government spokesman Steffen Seibert, German said in a statement that '' truth is that we don't want tax increases in Germany or the EU could impose new taxes.
He also rejected a European Commission spokesman said the report, saying that such a proposal is currently not under discussion, adding that UNHCR "does not comment on rumors in the press». The newspaper Sueddeutsche Zeitung «» German from Munich posted earlier, the German Government and the European Commission are looking at tax can be collected through a surcharge on oil tax or by increasing value-added tax.
He said the report was not attributed to a source, was sent from Lima, Peru, where he will attend the German Finance Minister Wolfgang Schäuble, a meeting of the International Monetary Fund, in the presence of Director Christine Lagarde, that these additional funds of solidarity tax will be used to help EU Member States such as Spain, Italy and Greece and Bulgaria to secure its borders, in addition to helping improve living conditions in the asylum seekers ' home countries to encourage their citizens to stay there.
He asked journalists in Lima Schäuble idea of European solidarity tax was "a matter for the European Commission and therefore I think that managing this priority task».