The study suggested the establishment of a joint Arab entity that brings together in its board of directors representatives from regional financing funds and Arab banks, with the aim of reconstruction and achieving sustainable development in the Middle East.
Cairo.. The Council of Arab Economic Unity in the League of Arab States published a study that it had prepared and presented to the Ministerial Council in 2019 under the title “Reconstruction… The Gateway to Arab Economic Integration and Joint Action.”
The Council also published the study in English with the aim of involving the international community in the findings and recommendations presented.
The study sheds light on the effects of the revolutions and turmoil on the current reality of the Arab peoples, from both the economic and cultural point of view.
The study also presents many proposals and recommendations on ways to develop a common Arab vision to take advantage of what is available in the field of comprehensive development and means of reconstruction, and to prepare Arab countries for that, especially those affected by this wave that occupied the second decade of the twenty-first century, and the importance and necessity of realistic planning for it. .
In this regard, His Excellency Ambassador Muhammad Muhammad Al-Rabee, Secretary-General of the Council of Arab Economic Unity, indicated that “there are nations that have been exposed to what is similar or greater than what the Arab region has witnessed, but benefited from their experience and reconstructed their civilization, strength and civility, and were able to provide prosperity and happiness for their people. And that the Arab countries need nothing but a sincere determination to rebuild, and to learn from past experiences, to establish a new and comprehensive renaissance that restores its rightful place among nations.”
His Excellency also added of the council’s belief that “through Arab economic integration and the realization of the principles of Arab economic unity and in partnership with the public, private and international sectors, it will be easy to progress in the field of reconstruction and overcome obstacles to restore the necessary infrastructure, not only at the construction level, but also at the human level.” Also, which was taken into account in this study, which was prepared to include human and social aspects, support stability and happiness of peoples, advance civilization and flourish civilizations.”
On his part, His Excellency Dr. Ali Muhammad Al-Khoury, Advisor to the Council of Arab Economic Unity in the League of Arab States, and President of the Arab Union for the Digital Economy, author of the study: “The Arab countries have no choice but to adopt and employ the current technological boom represented by the developments known as the ‘Fourth Industrial Revolution’; As a tool to achieve the goals of reconstruction in the Arab region.”
He explained that the recommendations in their entirety call for the adoption of Arab economic solutions from a holistic Arab perspective based on the foundations of cooperation and joint action, pointing out that Arab economic integration has become an urgent need, which has not been exploited properly previously, which explains the weakness and decline of the current Arab economic and social situation.
The study presented a proposal about the applied model of reconstruction projects in the Arab countries, and it included vital roles for local Arab governments, institutions of the League of Arab States (the Public Fund of Fund), Arab and international banks and finance houses, consulting, research and academic expertise houses, the private sector and investors, as well as non-civil work institutions. profitability.”
The proposals also included that the financing funds operate in a lending manner with very small interests, and choose projects with a return or that the local government undertakes to pay, and it can diversify the levels of response and participation on the same basis of work as the major financing funds; Including the World Bank, for example.