ESCWA WEEKLY NEWS No. 68

ESCWA warns of a historic decline in foreign direct investment in the Arab region due to COVID-19

The Arab region is set to witness its greatest decline in foreign direct investment (FDI) on record, according to a new policy brief issued today by ESCWA to shed light on the impact of the COVID-19 pandemic on Arab trade and FDI.

The biref estimates that the region is likely to lose 45% of FDI inflows in 2020. This alarming decline is even bigger than the 2011 drop in FDI, which had been caused by political unrest in several Arab countries, aggravating concerns about financing businesses in the region.

The region’s Governments will also be hard hit in their fiscal revenues, with the combined effects of COVID-19 and the dramatic March 2020 plunge in oil prices. These revenues are expected to drop by at least $20 billion this year.

Read more
 

ESCWA: 74 million in the Arab region at risk of COVID-19 due to lack of access to a handwashing facility

While it has been agreed worldwide that handwashing with soap and water is the best prevention against COVID-19 contagion, this simple act proves to be difficult in a region where 74 million people lack access to a basic handwashing facility, according to a policy brief released by ESCWA on 15 April.
 
Water demand for handwashing alone is set to increase by 9 to 12 litres per person per day – not to mention laundry, cleaning and food washing demands.

Moreover, only 1 in 10 households in the Gaza Strip has access to clean water; an estimated 26 million refugees and internally displaced persons also lack adequate water, sanitation and hygiene services.

Read more
 

Artificial intelligence policy in Jordan

ESCWA recently assisted the Ministry of Digital Economy and Entrepreneurship (MoDEE) in Jordan in drafting the national policy on artificial intelligence (AI).

The policy aims at harnessing AI as an essential component to increase the effectiveness and performance of public and private institutions. The aim is to place Jordan among the forerunner Arab countries benefiting from this technology.

The policy suggests focusing on 3 areas: the ecosystem of AI, the business environment and infrastructure, and governance. The Ministry made the draft policy available for a public consultation prior to its finalization and adoption.

Read more
 

Did you know...

… that nearly 87 million people in the Arab region lack access to an improved drinking water source in their place of residence? This increases their risk of exposure to COVID-19 when collecting water from public standpipes, particularly for women and girls.

While some households in the region turn to private vendors to purchase drinking water when it is not available through the tap, a significant share of households cannot afford private sector alternatives and turn to public sources, such as wells and standpipes, to collect water.

 Photo credit: Istock/greenaperture

Read more