The MENA Region has recently witnessed significant economic and financial development. Yet its trade and capital flows remain marginal on a global level, and risk perceptions and institutional underdevelopment are still a powerful obstacle to an increased access to capital markets, a better mobilization of savings and of long term finance for investment, especially large infrastructure projects. The paper argues that the creation of a regional multilateral bank for MENA could contribute to ease some of these constraints and to provide a poweful catalyst for increased capital flows, and that the recent attempt to turn this idea into reality, the MENABANK, currently on a shelve, deserves to be revamped.
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Paper provided by Economic Research Forum in its series Papers with number
9928.