Hafez Ghanem, Vice President of the World Bank for the MENA region, speaks during an interview in Beirut, Tuesday, April 28, 2015. (The Daily Star/Mohammad Azakir)
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A new international bond and grant scheme to help states dealing with the fallout of war and instability in the Middle East and North Africa should be in place by spring, a senior World Bank official said.In a Reuters interview, Hafez Ghanem, the World Bank's vice president for the Middle East and North Africa, said the type of investment targeted by the plan – education, infrastructure and jobs – was vital to addressing the region's refugee crises.He said humanitarian aid alone was not enough and the alternative was "one or two lost generations" in a region with 15 million refugees or internally displaced people."The big amounts will be required when you do the reconstruction say in Syria, or in Yemen, or Libya, but right now you cannot do that".The aim is to have the financing mechanism in place by spring, he said.
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