Implementation of ASP
The ASP would likely have a diversified financing base including possibly sovereign wealth funds, governments, private investors as well as partnering on a project level with International Financial Institutions. It would be led by a Governing Board, including investor and target countries at Finance Minister level, with ultimate authority over policies, direction and funding. An Investment Committee and team of Technical Experts would administer the ASP, manage the Trust Fund and provide due diligence on project proposals.
At a country level, National Project Development Teams would identifying high-potential projects and lead their country’s contribution to and vision of ASP. Coordination between the ASP, the Deauville Partnership and other initiatives could be ensured through Regional Policy Forum – to deepen dialogue on mutual strategies.
The ASP will focus on meeting the needs of Arab countries whose economies suffer most from high youth unemployment and will benefit from support within such a framework, including those in North Africa and the Levant and those defined by the Deauville Partnership.
All target countries should express a clear willingness to participate in the Plan, act to foster private sector employment and meet criteria for minimum political and security risks.
- Willingness to participate and benefit
- Private sector employment potential
- Country and sectors meeting minimum political and security risks
“The big challenge this year is to manage the expectation of an increasingly impatient population to undertake the measures that will stabilize the economy and would begin to lay the foundations of an economic transformation that would generate more job creating and inclusive growth.”