ArabianBusiness.com - Middle East Business News
Thursday, 08 January 2009 09:56 UAE time

YOUR DIRECTORY /

Print this page Print this page | Email this to a friend Email this to a friend | Discuss this article (0 Comments) |

Gulf states called on to give more aid

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 30 November 2008

Oil-rich Gulf Arab states should give more development aid to poor nations and raise transparency if they want a bigger voice on the world stage in the wake of the financial crisis, a senior UN official said on Sunday.

"If you want to become a full global player, it comes with responsibilities," said Salil Shetty, director of the UN's Millennium Campaign, which aims to halve extreme poverty and boost life expectancy by 2015.

"If Gulf states are serious, let's have some cash down," Shetty said in an interview on the sidelines of a UN aid meeting in Qatar's capital.

Story continues below
advertisement

Gulf Arab states, along with developing countries, have demanded a bigger role in global financial institutions such as the International Monetary Fund (IMF) and World Bank as the financial crisis ripples through their economies.

"They're doing more in terms of helping Islamic countries, which is a good starting point," Shetty said. "There's no reason why the US can support Israel in that [aid] sense, and Gulf countries cannot support Muslim countries.

"I think they need to step up a lot more than they have and they need to become part of the global process because right now they're kind of isolated. They're not part of the mainstream discourse and they need to get there."

European and US leaders and officials have visited the region in recent weeks, seeking more funds for the IMF as it organises bailouts for stricken countries. Gulf Arab states maintain that any cheques would come with conditions.

Shetty said it was unclear how much Gulf states gave in development aid because they were not part of the OECD's Development Assistance Committee (DAC) which tracks statistics on aid based on data provided by its members.

"We don't get clear numbers, it's very opaque. There needs to be more transparency, with these sovereign funds which are massive," he said.

The UN official's remarks came after Qatar's ruler said on Saturday that too much was expected of oil producers.

"Sometimes we have a feeling that there are some attempts to put the whole burden of development on the oil-producing countries and in this logic we see some prejudice and disavowal," Sheikh Hamad bin Khalifa Al Thani said in a speech.

The UN summit on financing for development, which runs until Dec. 2, has been overshadowed by the global financial crisis. (Reuters)

Print Print | Email Email | Discuss this article |


READERS' COMMENTS


Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code * Code


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

RELATED LINKS

  1. United Nations (UN)»

 EMAIL ALERTS

  1. United Nations (UN)

  2. Politics & Economics



Rich List 2008
EMIRATES ID DOWNLOAD

READER COMMENTS

  1. UAE gov't mulls plan to help redundancy victims 12
    07 Jan ' 09 at 23:45
    Mr Hank couldn't have said it better in a polite way :), I have to agree with him.  More »
  2. Recession in UAE cannot be ruled out - analysts 7
    07 Jan ' 09 at 17:21
    Analysts are always behind the curve, just like ratings agencies only downgrade once it is too late. Why anybody listens to these...  More »
  3. 48 killed in UN-run school inside Gaza 4
    07 Jan ' 09 at 15:04
    I totally agree with previous commenter, as a dual national of US and UK.I am absolutely disgusted that neither of these countries is...  More »
Read all user comments >

BUSINESS FEATURES

Iceland’s financial crisis sends Viking descendants back to Norway for jobs

Almost 1200 years after a viking chief left Norway to found Reykjavik, Iceland's crisis is forcing his descendants home.

White truffle prices collapse

The wealthy pare back on luxuries and charity as the global economic slowdown continues to bite.

Down and out in Beverly Hills: Rolexes, Picassos hit pawnshops

Beverly Loan is a pawnshop that caters to people who hock Cartiers, Harleys and Oscar statuettes.

BUSINESS INTERVIEWS

The business of war

RA International's founder on how a UN secondment developed into an international enterprise.

BT talks up Middle East growth plans

BT is shedding 10,000 jobs but the British telecom operator is performing strongly in the Middle East.

Catch me if you can

EXCLUSIVE: Former Thai prime minister Thaksin Shinawatra talks to Arabian Business about what he plans to do next.

MORE FROM ARABIANBUSINESS.COM