What is ASP?
The Arab Stabilization Plan or ASP is a direct policy response to the job crisis facing the Arab World.
The population of the Arab world is about 355 million of which there are approximately 17 million people unemployed. This unemployment in the Middle East and North Africa has been a central driver of recent instability. The population of the Arab World is increasing and is estimated to reach 500 million by 2025 and an estimated 85 million jobs are required in the next ten years. The jobs crisis is at a tipping point and needs to be addressed urgently.
Direct investment into infrastructure-related projects could provide millions of jobs while providing critical services to the population. The World Bank estimates that an injection of US$100 billion over the next five years could create up to 11 million jobs. Public and private funds will be invested in infrastructure projects in areas of energy, transport, housing, agriculture, communications, water and sanitation to stimulate growth to be led by the private sector.
The ASP would lay the foundation for regional economic cooperation to tackle the unemployment issue.
“The job ahead is not simply to rebound. We must spur new growth. Our region’s single greatest economic crisis – youth unemployment – pleads for action, double action: immediate relief, to meet urgent needs; and inclusive, high-growth strategies that can produce millions-more jobs we must have, soon.”