{"id":67342,"date":"2019-06-27T16:29:09","date_gmt":"2019-06-27T15:29:09","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=67342"},"modified":"2019-06-27T16:29:09","modified_gmt":"2019-06-27T15:29:09","slug":"tony-elumelu-joins-jared-kushner-lagarde-world-leaders-to-launch-us-government-growth-strategy-for-palestine-and-middle-east","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/tony-elumelu-joins-jared-kushner-lagarde-world-leaders-to-launch-us-government-growth-strategy-for-palestine-and-middle-east\/","title":{"rendered":"Tony Elumelu Joins Jared Kushner, Lagarde, World Leaders to Launch US\u00a0 Government Growth Strategy for Palestine and Middle East"},"content":{"rendered":"
\n
Heads of States and other global leaders convened at the Peace to
\nProsperity Workshop in Bahrain, organised by the Presidency of the
\nUnited States of America in partnership with the host government, the
\nKingdom of Bahrain, to launch the US growth strategy for Palestine and
\nthe Middle East; a first step in the long journey towards establishing
\nan enduring future for the region; the West Bank, Gaza, and beyond.<\/p>\n

Providing the African perspective upon special invitation from the US
\nGovernment, Tony Elumelu, Founder, the Tony Elumelu Foundation and
\nChairman, the United Bank for Africa, headlined the summit, speaking on
\nthe opening plenary alongside Christine Lagarde, Managing Director,
\nInternational Monetary Fund (IMF); and HE Mohammed Al-Sheikh, Minister
\nof State & Member of the Council of Ministers, Kingdom of Saudi Arabia,
\nto share practical recommendations to unlock future economic prosperity
\nfor the Palestinian people, using what is done at the Tony Elumelu
\nFoundation as a replicable model for the economic empowerment of young
\nmen and women from the West Bank and Gaza.<\/p>\n

Elumelu stressed the urgency and importance of supporting and empowering
\nyoung Palestinians to ignite the entrepreneurial ecosystem and
\nstrengthen the Palestinian economy. For stable growth, he reiterated
\nthat young Palestinians must be empowered with jobs and economic
\nopportunity to contribute meaningfully to their nation’s development.<\/p>\n

“I come from Africa; and the reality is that we do have a lot of
\nsimilarities with the Palestinian people; especially in the area of
\ndemographic make up. With over 60% of its nearly 5 million strong
\npopulation under 30, the young people of Palestine need Jobs Jobs and
\nmore Jobs! Without jobs, there will be no economic hope. Big
\ncorporations and government alone cannot supply the jobs demanded by
\nPalestine’s demographic pressures. We need SMEs and startups to address
\njoblessness in the region, create jobs and opportunities in local
\ncommunities for millions of our Palestinian young brothers and sisters
\nto become employed, meaningfully engaged, and full of economic hope,
\nwhich in turn leads them away from extremism.”<\/p>\n

The renowned investor and philanthropist who is leading by example
\nthrough the Tony Elumelu Foundation which has committed US$100m to
\nempower young African entrepreneurs, called on endowed Middle Easterners
\nand their philanthropies to step up and become more involved in
\nempowering the young ones of Palestine. As he explained, “In the 21st
\ncentury, we cannot keep relying on western donors to help empower our
\nown people; we must step up and create a platform where they may partner
\nwith us for scale, just as we are doing at the Tony Elumelu Foundation.”<\/p>\n

The Tony Elumelu Foundation annually identities and empowers
\nentrepreneurs across all of Africa’s 54 countries with non-refundable
\nseed capital of $5000 each, mentoring and training, and in over five
\nyears, has supported 7,520 young Africans. To resolve joblessness in the
\nregion, Mr Elumelu offered his Foundation’s unique economic empowerment
\nmodel to be replicated in Palestine. “Young Palestinian people need
\nsimilar opportunities like the ones we currently give young African
\nentrepreneurs through the Tony Elumelu Foundation. We acknowledge that
\ngiven Africa’s huge numbers, we are touching only a top of the iceberg,
\nbut we have seen first-hand how this model transforms individual lives,
\nfamilies, communities and cities.”<\/p>\n

Agreeing with Elumelu on his call for an increased focus on SMEs and
\nyoung people, Saudi Arabia’s Minister of State Mohammed al-Sheikh,
\nstated: “The younger population and proper planning is essential to
\ncreating economic prosperity in the West Bank and in Gaza. If you look
\nat the demographics in the region, it is a young population. As the
\nKingdom of Saudi Arabia looked to diversify its economy and carry out
\nthe structural changes to be less reliant on oil revenue, this required
\nreal commitment and hard work and buy in from everybody, with
\nsmall-to-medium enterprises at the front and center of the Kingdom’s
\nVision 2030.”<\/p>\n

Elumelu also called on the government to play its own role in supporting
\nand prioritising the young people of Palestine: “Governments must play
\ntheir own role: ensuring good governance is in place, prioritising
\ninfrastructure and the fight against corruption, and creating an
\nenabling and conducive environment so that when these young Palestinians
\nget opportunities, they can succeed.”<\/p>\n

He continued: “As an investor, something that speaks volumes to me when
\nI want to chose a country to invest in is this: is the private sector in
\nthat environment doing well? Do they have small and medium scale
\nenterprises that are flourishing? This to me is the real signal of how
\nsuccessful my investment will be because what it is good for local
\ninvestors is good for international investors. If economic conditions
\nfor local investors are not favorable, they can’t be for foreign
\ninvestors. Government must ensure that local SMEs thrive to signal to
\nglobal investment community that Palestine is open for business.”<\/p>\n

Joining Elumelu in advising on the role of the government in creating a
\nconducive environment for the private sector, Christine Lagarde, MD, IMF
\nadded, “We have seen a pressing need for capacity development in the
\nfield of public finance management, central bank strength and domestic
\nrevenue mobilization. These are the background in which private sector
\ncan have a predictable environment within which they can operate.<\/p>\n

Advising development agencies on a more inclusive model for even greater
\nimpact, Elumelu stated: “Development agencies should also not sit in
\ntheir offices abroad to design growth programmes and strategies for the
\nPalestinian region, but must ensure that the people of Palestine are
\nactively involved in pulling their people out of poverty. Development
\nagencies must assist in a strategic manner, working with local partners
\nwho understand local nuances, so that the over $19 billion spent so far
\nby the World bank and allied institutions on innovation and
\nentrepreneurship is more impactful, transforms more lives and addresses
\nthe real issues on ground.”<\/p>\n

In conclusion, the founder of the Tony Elumelu Foundation commended the
\nUS Government for this timely initiative and intervention but counseled
\non the importance of longevity and sustainability. “For what we are
\ngathered here to be sustainable, endure over time and lead to sustained
\nprosperity, we must involve the Palestine people. Until we collectively
\nagree that any economic plan we put in place for Palestine and the
\nregion must be anchored by and on the small and medium scale enterprises
\nto be permanent and fundamentally address the issues, we will continue
\nto rely on quick fixes. We must prioritise inclusive growth that brings
\nall to the table – women and youth especially – which in turn will
\ncreate more hope and beget more security and peace. To achieve this,
\nthere must be collaboration between the Palestinian people, friends of
\nPalestine, neighbours of Palestine, and led by the wealthy and endowed
\nelite in the Middle east, to work together to economically empower young
\nPalestinians. It is not too difficult a task for us to touch significant
\nnumbers out of the 2-3 million youth in the region.”<\/p>\n

He continued, “The Tony Elumelu Foundation is ready to deploy our
\nexpertise in collaboration with the wealthy elite from the Middle East
\nregion, to create an affirmative plan, and send a strong message of hope
\nfor the Palestinian young people. If we prioritise them and create the
\nright future for them, we will signal a new beginning in this part of
\nthe world. Only then will we achieve security and peace permanently
\nbecause these young people will become inclusive stakeholders and the
\ntrue champions of prosperity.”<\/p><\/div>\n

<\/div>\n
<\/div>\n
<\/div>\n<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"

Heads of States and other global leaders convened at the Peace to Prosperity Workshop in Bahrain, organised by the Presidency of the United States of America in partnership with the…<\/p>\n","protected":false},"author":1,"featured_media":67343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-67342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nTony Elumelu Joins Jared Kushner, Lagarde, World Leaders to Launch US\u00a0 Government Growth Strategy for Palestine and Middle East - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/tony-elumelu-joins-jared-kushner-lagarde-world-leaders-to-launch-us-government-growth-strategy-for-palestine-and-middle-east\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tony Elumelu Joins Jared Kushner, Lagarde, World Leaders to Launch US\u00a0 Government Growth Strategy for Palestine and Middle East - 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