For the Development of Middle East and North Africa. Sovereign Wealth Funds, European Union, Arab League and Others

The dramatic crisis in the Middle East and North Africa, with its enormous costs in terms of human lives and sufferings, has not urged to plan for the development of that area. The article deals with the following issues: The Libyan crisis, The Sovereign Wealth Funds of the countries of the MENA region, the EU position and The role of the Arab League and of the Gulf Cooperation Council. Finally two proposals are put forward. The first concerns the creation of a EU-Arab League humanitarian fund for an immediate intervention; the second proposal concerns the creation of a EU-Arab League Development Bank which attracts capitals of the Arab League countries’ SWF in order to finance development projects in the countries in the MENA region.