Economic and Financial Rationale for a Regional Multilateral Bank for the Middle East and North Africa
The MENA region has recently witnessed significant economic and financial development. Yet its trade and capital flows remain marginal on a global level, and risk perceptions and institutional underdevelopment are still a powerful obstacle to an increased access to capital markets, a better mobilization of savings and of long term finance for investment, especially large infrastructure projects. The paper argues that the creation of a regional multilateral bank for MENA could contribute to ease some of these constraints and to provide a powerful catalyst for increased capital flows, and that the recent attempt to turn this idea into reality, the MENABANK, currently on a shelve, deserves to be revamped.
Year of publication: |
1999-09
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Authors: | Grais, Wafik ; Savorelli, Lorenzo |
Institutions: | Economic Research Forum (ERF) |
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