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International Finance Corporation invests $2.9 billion in the Middle East and North Africa

MEMO | February 7, 2013

ifcInternational Finance Corporation invests $2.9 billion in the Middle East and North AfricaFigures released by the International Finance Corporation show that its investments for the fiscal year 2012 in the Middle East and North Africa have reached a record $2.9 billion. Fifty-seven projects have been supported across 12 countries as part of the Corporation’s efforts to restore investors’ confidence in the region, with a focus on the long-term possibilities after the end of the political crises. It is the IFC’s highest annual commitment in the region to date, representing a 21 per cent increase over 2011.

Twenty-five advisory projects were launched with a total value of $17.6 million to improve opportunities for obtaining access to finance and strengthen corporate governance and practices of small and medium enterprises. Almost $600 million has been pumped into infrastructure projects in the MENA region. One IFC initiative is the Arab Financing Facility for Infrastructure (AFFI), established in partnership with the World Bank and the Islamic Development Bank to encourage infrastructure investment.

In order to address what it calls the “the mismatch between the needs of the labour markets and the education outcomes in the Arab World”, the IFC pointed to the launch of the e4e (Education for Employment) initiative for Arab youth in Egypt, Jordan, Tunisia and Morocco, in collaboration with the Islamic Development Bank. The e4e team has also sought and received funding for the project from Britain’s Department for International Development among other donors.

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Russia slams US for secret prisons on foreign lands

Press TV – October 20, 2012

Russia has launched a broadside on the United States for running secret jails in a variety of countries across the globe.

In a document revealed by RIA Novosti on Friday, the Russian Foreign Ministry noted that the US Central Intelligence Agency (CIA) is running prisons in Poland, Iraq, Afghanistan, Morocco, Thailand, Lithuania and Romania.

The report, which the ministry has submitted to the lower house of Russian State Duma for deliberations, denounced the US for its dismal human rights record, citing molestation of children, invasion of privacy, brutality of police and restrictions on the freedom of expression.

The report noted that “hundreds of thousands of children” are maltreated in the US every year, leading to 1,600 deaths in 2010 alone.

“About one police officer in 100 has been involved in criminal abuses, including sexual harassment, indecent behavior or rape,” it said.

“The US remains the country with the largest prison population in the world – 2.2 million,” the report underlined.

The Russian report also heaped scorn on a US legislation authorizing “special services” to keep tabs on all private electronic messages without any judicial order. “Between 2004 and 2007 the number of electronic messages monitored by US special services rose by 3,000 percent.”

Former US president George Bush, together with a number of other high-ranking US officials, approved the establishment of secret prisons in foreign lands, as early as 2002, by its key spy agency in efforts to carry out harsh interrogation techniques, such as waterboarding, to extract information from what they introduced as ‘terror suspects’.

The establishment of such interrogation facilities in foreign, allied nations by the US administration was to avert accountability in the American legal system, since torture is specifically banned by the US Constitution.

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October 20, 2012 Posted by | Civil Liberties, Subjugation - Torture | , , , , | Leave a comment

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