Al Hilal advances to AFC Champions League knockout stage despite 1-1 draw with Al Sadd    Finance minister: All Vision 2030 projects have sustainable funding that won't affect public finances    Crown Prince announces medium-term debt strategy to diversify funding sources "A resilient economy capable of overcoming challenges reflects progress towards achieving Vision 2030 goals"    'No excuses' for Israel to not accept ceasefire deal, EU foreign policy chief says    Alkhorayef highlights role of National Initiative for Global Supply Chains in boosting Saudi economy    Saudi Arabia signs investment deals worth SR35bn with foreign firms to strengthen global supply chains    Saudi Arabia unveils updates on Expo 2030 Riyadh master plan at 175th BIE General Assembly Riyadh Expo Development Company established to oversee strategic planning, operations, and legacy development    Riyadh Season draws 8 million visitors in 6 weeks    Saudi FM attends Quadripartite meeting on Sudan in Italy    Gangsters block aid distribution in south Gaza    Russian deserter reveals war secrets of guarding nuclear base    Georgia's new parliament opens first session amid mass protests and boycott    Best-selling novelist Barbara Taylor Bradford dies    Cristiano Ronaldo's double powers Al Nassr to 3-1 win over Al Gharafa in AFC Champions League    Al Ahli edges Al Ain 2-1, bolsters perfect start in AFC Champions League Elite    Al-Falih: 1,238 foreign investors obtain premium residency in Saudi Arabia    Most decorated Australian Olympian McKeon retires    Adele doesn't know when she'll perform again after tearful Vegas goodbye    'Pregnant' for 15 months: Inside the 'miracle' pregnancy scam    Do cigarettes belong in a museum?    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Summit of world's poorest nations opens in Istanbul
CHRISTOPHER TORCHI
Published in The Saudi Gazette on 10 - 05 - 2011

ISTANBUL: Speakers at a United Nations forum Monday urged the world's poorest nations to help their vulnerable citizens by pursuing good governance, while some leaders said rich countries had not done enough to help developing regions.
UN Secretary General Ban Ki-moon was among some 8,000 delegates who converged on Istanbul for the conference on “least-developed countries,” which lists 48 members in its ranks. Thirty-three are in Africa, 14 are in Asia and one – Haiti – is in the Americas.
The five-day conference opened with dire warnings about the threat of rising food and fuel prices, and climate change, to the poor, but there were also calls to seize investment opportunities in developing countries.
Turkey's role as host allowed it to highlight its growing economic and diplomatic clout, though Prime Minister Recep Tayyip Erdogan took the opportunity to warn that “the rage to consume, the growing gap between rich and poor” would foment global insecurity.
“We observe with great sadness that developed, rich countries have not shown sufficient interest in this important summit,” said Erdogan.
Turkey's warm relationship with Iran has troubled Western governments who suspect the Islamic Republic of seeking to develop nuclear weapons, though Tehran says its program is peaceful. Iranian President Mahmoud Ahmadinejad, whose oil-rich country is not in the UN list of poorest countries, traveled to Istanbul for the conference.
In a speech, Ahmadinejad said “weaknesses and shortcomings” of some developing nations could be attributed to the legacy of colonial powers that he said exploited natural resources and engaged in devastating wars in a bid to retain control. Even today, he said, the “same global powers” were seeking to “plunder” the wealth of vulnerable nations.
He proposed that 10 percent of the military budget of powerful countries be allocated to the poorest nations, and that Iran was ready to join such a development effort.
“They should not be treated like homeless people,” Ahmadinejad said. According to conference organizers, the group of least-developed countries accounts for nearly 13 percent of the global population, but just 1 percent of world trade.
They noted, however, that some of those countries, known as LDCs, have enjoyed relatively high growth rates in recent years.
“Investing in LDCs is not charity. It's an opportunity for all,” said Ban, the UN chief. “Investing in LDCs can provide the stimulus that can help to propel and sustain global economic recovery.” The last such conference was hosted by the European Union in Brussels in 2001, and Ban said it was vital to ensure the long-term monitoring of any promises of assistance from developed and emerging economies.
“We have received a lot of very generous pledges in the past, but not all of them have been delivered,” he said.
Ngozi Okonjo-Iweala, managing director of the World Bank, said that in order to complement help from the international community, poor countries must “look within” to create favorable conditions for growth. She said accountable institutions and citizen involvement in decision-making would help contain conflict and manage crises, including natural disasters.
Former World Bank President James D. Wolfensohn said governance in poor countries was critical to the good use of funds aimed at reducing poverty, and that “civil society” groups were often full of goodwill but failed to coordinate.
He said that during his 10 years at the helm of the World Bank, he usually anticipated that corruption would reduce the efficiency of bank projects by between five and 30 percent. Graft, Wolfensohn said, was still a taboo topic.


Clic here to read the story from its source.