US Deputy Secretary of State Antony Blinken announced $25 million in intended U.S. funding for the World Bank's new financing initiative to support the Middle East and North Africa (MENA) region.
A statement by the US Department of State said the initiative aims to assist MENA countries affected by the Syrian refugee crisis, conflict, and economic instability by providing much needed access to additional financing.
The statement added that conflicts across the MENA region have created a crisis with global implications as refugees flood to neighboring states and beyond.
"This is not only a humanitarian crisis but also a development challenge, affecting the development plans of host countries as they endeavor to provide food, shelter, jobs, and services to refugees, internally displaced persons, and the communities hosting them, often for protracted periods of time", it added.
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