Arab states look to diaspora as they rebuild - The National

The World Bank has come up with a novel plan to help rebuild "Arab Spring" economies - people power.

In a move to raise funds to reconstruct nations hit by unrest, the bank is recommending that bonds be issued and financed by nationals of those countries who work abroad.

So-called diaspora bonds could help to generate more than US$1 billion (Dh3.67bn) in each African nation, including those affected by unrest, said Dilip Ratha, a World Bank economist.

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