ID :
181531
Wed, 05/11/2011 - 15:22
Auther :
Shortlink :
https://oananews.org//node/181531
The shortlink copeid
Call to Boost Human Capital in Arab Region
Doha, May 11 ( QNA) The economic progress of Arab region is lagging behind due to the lack of programmes that empower human capital, the Director-General of the OPEC Fund for International Development (OFID) said here Wednesday.
Speaking to Qatar News Agency (QNA), on the sidelines of the conference Enriching the Middle East s Economic Future , Suleiman Jacir Herbish said, "The urgent need of the hour is to strengthen educational programmes and establish research centers in the Arab region which will develop human capabilities."
He also stressed the need to provide an appropriate environment to qualified people to stop the brain drain to other countries. He criticised the trend of announcing development plans which are seldom implemented.
Despite its abundant resources, the region s economic development is hampered due to the ills of terrorism, poverty, corruption which is undermining the political process. Other parts of the world are similarly suffering due these problems, he said.
The OFID is supporting programmes in developing countries like Egypt, Tunisia and Syria which are currently going through a process of transformation. The Fund is assisting development in these countries by investing in power projects, infrastructure and roads among other.
Herbish said that all developing countries can benefit from the OFID except OPEC members since the priority was to help the less developed countries first. The Fund endeavours to share its income with developing countries
The fund assists more than 129 developing countries through projects in sectors such as energy, transport and key areas. The fund works to provide financial assistance in the form of soft loans to finance development projects and programme and boost the states balance of payments.
The Fund also finances private sector companies in developing countries as well as providing credit facility and guarantees. It also provides grants in support of technical assistance, food aid, research and humanitarian relief, Herbish said.
The OFID was established in 1976 with its headquarters in Vienna. Its membership includes Qatar, Saudi Arabia, United Arab Emirates, Algeria, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria and Venezuela.
Speaking to Qatar News Agency (QNA), on the sidelines of the conference Enriching the Middle East s Economic Future , Suleiman Jacir Herbish said, "The urgent need of the hour is to strengthen educational programmes and establish research centers in the Arab region which will develop human capabilities."
He also stressed the need to provide an appropriate environment to qualified people to stop the brain drain to other countries. He criticised the trend of announcing development plans which are seldom implemented.
Despite its abundant resources, the region s economic development is hampered due to the ills of terrorism, poverty, corruption which is undermining the political process. Other parts of the world are similarly suffering due these problems, he said.
The OFID is supporting programmes in developing countries like Egypt, Tunisia and Syria which are currently going through a process of transformation. The Fund is assisting development in these countries by investing in power projects, infrastructure and roads among other.
Herbish said that all developing countries can benefit from the OFID except OPEC members since the priority was to help the less developed countries first. The Fund endeavours to share its income with developing countries
The fund assists more than 129 developing countries through projects in sectors such as energy, transport and key areas. The fund works to provide financial assistance in the form of soft loans to finance development projects and programme and boost the states balance of payments.
The Fund also finances private sector companies in developing countries as well as providing credit facility and guarantees. It also provides grants in support of technical assistance, food aid, research and humanitarian relief, Herbish said.
The OFID was established in 1976 with its headquarters in Vienna. Its membership includes Qatar, Saudi Arabia, United Arab Emirates, Algeria, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria and Venezuela.
