Mideast Bank Lacks Currency Proposal for Regional Institution Neglects Palestinian Development Needs, Critics Warn

By John Battersby, writer of The Christian Science Monitor | The Christian Science Monitor, November 8, 1994 | Go to article overview

Mideast Bank Lacks Currency Proposal for Regional Institution Neglects Palestinian Development Needs, Critics Warn


John Battersby, writer of The Christian Science Monitor, The Christian Science Monitor


PLANS for a $10-billion Middle East-North Africa Development Bank are running into political and economic resistance.

The bank, strongly advocated by the United States and backed by Israel, was touted at the Middle East-North Africa Economic Summit in Morocco last week as one that could serve as a focal point for developing regional trade and investment and promoting a greater flow of people among the nations.

As well as opposition from Saudi Arabia and some of the Gulf states, there are growing concerns that the bank might not provide the appropriate mechanism for ensuring economic development in the Palestinian self-rule territories - particularly the deprived Gaza Strip.

Leonard Hausman, director of Harvard's Institute for Social and Economic Policy in the Middle East, told the Monitor that Palestinians were holding back on doing business with the Israelis because of a lack of trust.

"The bank would be a nonstarter if the Palestinians were left out.... It would be damaging to the Middle East peace process," Professor Hausman said.

He added that the bank was unlikely to take off until Syria and Lebanon - which have not yet negotiated a peace treaty with Israel - were brought into the peace process. "I think once Syria is in, there will be many around in the Middle East who will take part in regional institutions."

Hausman, who took part in a panel on the Palestinian economy in Morocco and at this week's Jerusalem Business Conference, warned that unemployment among Palestinians and in Jordan should be a cause of major concern for Israel. "It is necessary to take immediate action to create new jobs in the region," he said.

The Jerusalem conference from Nov. 5 to 7 was attended by some 1,000 delegates from Egypt, Turkey, Tunisia, Jordan, and the Palestinian Authority (PA), and more than 2,000 Israeli businessmen.

UN Undersecretary-general Terry Larsen, who was instrumental in arranging secret contacts between Israel and the Palestine Liberation Organization last year, warned that the economic situation in Gaza was more grave than most officials realized. "If there are no visible results, this will ignite more terror and more violence. It may tilt any day now if we don't push the economy," he told a session of the Jerusalem conference.

Leaders of the PA, in charge of implementing limited self-rule in Gaza and the West Bank, have expressed reservations about the proposed bank.

PA Planning Minister Nabil Shaath said that the bank would be of little use if it was run purely along commercial lines and did not address the specific problem of Palestinian needs. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Mideast Bank Lacks Currency Proposal for Regional Institution Neglects Palestinian Development Needs, Critics Warn
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.