UAE Calls for Arab Coalition to Face Threats in Region

UAE's Minister of State for Foreign Affairs Anwar Gargash. REUTERS/Faisal Al Nasser
UAE's Minister of State for Foreign Affairs Anwar Gargash. REUTERS/Faisal Al Nasser
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UAE Calls for Arab Coalition to Face Threats in Region

UAE's Minister of State for Foreign Affairs Anwar Gargash. REUTERS/Faisal Al Nasser
UAE's Minister of State for Foreign Affairs Anwar Gargash. REUTERS/Faisal Al Nasser

UAE's Minister of State for Foreign Affairs Anwar Gargash stressed the need for a moderate Arab coalition to face the threats in the region. His speech was made during the Abu Dhabi Strategic Debate (ADSD), organized by Emirates Policy Centre.

Building a strong moderate Arab center to address common regional security challenges is already underway, he said, adding that "for this Arab-led approach to be successful, we must continue to develop our own capabilities."

"It is critical that Saudi Arabia and Egypt play a leading role in helping to steer the region in a more positive direction. Their stability is so important for the future of the whole region, and it is also why we welcome the proposal for a Middle East Strategic Alliance – it will allow countries with moderate agendas to work closely with the United States," Gargash stated.

He went on to say that the GCC would be an important part of this alliance.

“Iran has been a primary source of sectarianism in the region," he added. "We believe that Iran is threatening the security of the region's countries by supporting armed militias and its proxies, like Hizbollah in Lebanon and Houthis in Yemen in addition to its use of cyber attacks and carrying out acts of terror in the region and beyond, like those witnessed in Europe."

The minister reaffirmed the UAE's support for the US President Donald Trump's policy toward Iran and his strategy to stand up to its aggressive and destabilizing conduct.

"Another pillar for stability is for the region's countries to pursue good governance. Like other peoples of the world, the region's people seek good health, education and job opportunities; they aspire for prosperity and in case youth in our region have not been promised their dreams will come true, they would opt for extremism," he said.

Gargash continued: "It is now high time for Houthis to de-escalate the situation and start a fresh round of peace negotiations. The ball is now in their court and the international community has to contribute to reaching a peaceful solution to the conflict by getting the Houthis to the negotiating table and cut off military supplies and funding provided to them by Iran."



World Bank Looking to Free up Emergency Funds for Lebanon, Managing Director Says

 A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)
A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)
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World Bank Looking to Free up Emergency Funds for Lebanon, Managing Director Says

 A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)
A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)

The World Bank is looking to free up emergency funds for Lebanon, potentially including up to $100 million through the use of special clauses in existing loan deals, its managing director of operations told Reuters.

The Washington-based development lender currently has $1.65 billion in loans to the country including a $250 million loan approved this week to help connect dispersed renewable energy projects in the country.

Amid fighting across southern Lebanon, the bank was currently discussing ways in which it could help support the economy, including through the use of so-called Contingent Emergency Response Component (CERCs) clauses.

"We can use our existing portfolio and free up some money for really critical, short-term liquidity needs," Anna Bjerde said.

CERCs are present in around 600 of the bank's existing projects, globally, and allow it to redirect funds that have yet to be disbursed, if requested to by a government, for example after a health or natural disaster, or during conflict.

Lebanon has yet to make such a request, Bjerde said.

After a year of exchanges of fire between Hezbollah and Israel mostly limited to the frontier region, the conflict has significantly escalated in Lebanon.

Hezbollah fired rockets at Israel's third largest city Haifa on Monday, while Israeli forces looked poised to expand ground raids into south Lebanon on the first anniversary of the Gaza war, which has spread conflict across the Middle East.

Lebanon's government could choose to use an existing social protection program that was put in place during the COVID-19 pandemic that allows for financial support to be sent to individuals, Bjerde said.

"It has the benefit of being totally digital so you can reach people, plus it can be verified a bit... so we will also probably use that to top up the social safety net for those that are particularly affected."

Up to 1 million people have been internally displaced in the country, she added: "So it's important we focus on that".

Lebanon's finance ministry and economy ministry did not immediately respond when asked for comment.