VOL. XXXIV
NO. 30
29-APRIL-1991
Financial and Banking News
BUDGETS & REVENUES
GCC States Begin New Approach to Developing Country Aid in Middle East
The Gulf Cooperation Council (GCC) states took their first steps towards the creation of the much-vaunted new economic order in the Middle East on 22 April when they agreed to create a new Middle East development fund, to be capitalized at $5bn within the next three years, rising to $10bn in 10 years. Some officials suggested the fund might...
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