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<p><b><font size=3 color="#000066" face=Arial><span style='font-size:12.0pt;
color:#000066;font-weight:bold'>Sheikh Mohammed bin Rashid Al Maktoum Launches
Foundation to Promote Human Development with US$ 10 Billion Endowment<br>
<br>
</span></font><strong><b><font face=Arial><span style='font-family:Arial'>Mohammed
Bin Rashid Al Maktoum Foundation to develop future leaders and create
knowledge-based society in the region</span></font></b></strong></b> <o:p></o:p></p>
<p><strong><b><font size=2 color=black face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Dead Sea, Jordan, 19 May 2007</span></font></b></strong> -
His Highness, Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime
Minister of the United Arab Emirates and Ruler of Dubai, today launched the
"Mohammed Bin Rashid Al Maktoum Foundation", a major initiative to promote
human development and provide hope and opportunity by investing in education
and the development of knowledge in the region. His Highness, Sheikh Mohammed,
made the announcement in a keynote address at the World Economic Forum on the
Middle East being held at the Dead Sea in <st1:country-region w:st="on"><st1:place
w:st="on">Jordan</st1:place></st1:country-region>.<o:p></o:p></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>The
Foundation, which will be launched with an endowment of US$ 10 billion, aims to
open doors for forthcoming generations of leaders of the region to shape their
future by equipping them with world-class knowledge and education.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>The
Foundation will source and manage a wide range of initiatives including the
establishment of high-quality research programmes and research centres, and the
provision of scholarships to students to attend leading universities and
institutes. It will also support research in universities across the region. In
addition, the Foundation will provide leadership programmes for youth in
government, the private sector and in non-governmental organizations.
Scholarships and research grants will also be given to authors and researchers
in the region.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>His
Highness, Sheikh Mohammed, said: "It gives me great pleasure to announce a
personal initiative aimed at building a knowledge-based society throughout the
region.”<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>“The
Foundation’s mission is to invest in knowledge and human development,
focusing specifically on research, education and promoting equal opportunities
for the personal growth and success of our youth. The Foundation’s
programmes are also aimed at enhancing the standing of scholars and intellectuals
in the Arab world."<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>The
initiative, the largest of its kind in the region, will put in place the
necessary infrastructure to facilitate and encourage knowledge creation and
dissemination.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>In his
address, His Highness acknowledged the need to bridge the knowledge gap between
the region and the developed world. He said: “The illiteracy that is
still rampant in the region’s communities limits the region’s
growth and advancement. He pointed out that the most alarming indicators are
the 18% illiteracy in the under-15 age group and the 43% illiteracy among
females in the region.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>His
Highness also said that if the goal of creating a knowledge-based society is to
be achieved, the levels of knowledge creation need to be increased in the Arab
world. According to human development reports, literary and intellectual books
published in the Arab world represent only 0.08% of the world’s output,
less than those published in <st1:country-region w:st="on"><st1:place w:st="on">Turkey</st1:place></st1:country-region>
alone. For every 100,000 books published in North America, there are 42,000
published in South America, and only 6,500 books published in the Arab world.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>In terms
of spending on scientific research, His Highness said the Arab world spends
only 0.02% of its GDP while developed countries spend between 2.5% and 5%. In
the Arab world, for every 10,000 people in the workforce there are 3.3 academic
scholars, while the developed world has 110 for every 10,000.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>His
Highness stated that unemployment in the region is 14% and that 15 million jobs
are needed right now in the Arab world, and 74 million to 85 million new jobs
will be needed over the next 20 years. He said that the business environment in
the Arab world would need to be improved if these jobs were to be created, but
there are challenges that will need to be overcome. “On average, Arab
countries ranked 107 out of 175 in terms of the amount of red tape involved in
setting up a business and this situation cannot be allowed to continue.”<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>His
Highness stressed that the Foundation will undertake concrete initiatives to
encourage innovation and entrepreneurship throughout the region, thus creating
significant new employment opportunities and providing hope for the
region’s youth.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>His
Highness pointed out: “We have a population where half its members are
under the age of 20, and it is our responsibility to develop this human capital
to the best of our ability. We have the vision and the will to set the stage
for the benefit of future generations through the development of this
Foundation, which will provide the prerequisites for moving our region forward.”<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>Well-known
role models will also support the initiative, helping to build and sustain
positive momentum for development of the Foundation.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>The
Foundation will be based in the <st1:country-region w:st="on"><st1:place w:st="on">United
Arab Emirates</st1:place></st1:country-region> and will implement its
programme later this year.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'><br>
---------------------------------------------------------------------------------------------------------------------------------------------<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>The World
Economic Forum is an independent international organization committed to
improving the state of the world by engaging leaders in partnerships to shape
global, regional and industry agendas.<o:p></o:p></span></font></p>
<p><font size=2 color=black face=Arial><span style='font-size:10.0pt'>Incorporated
as a foundation in 1971, and based in <st1:place w:st="on"><st1:City w:st="on">Geneva</st1:City>,
<st1:country-region w:st="on">Switzerland</st1:country-region></st1:place>,
the World Economic Forum is impartial and not-for-profit; it is tied to no
political, partisan or national interests. (<a href="http://www.weforum.org">http://www.weforum.org</a>)<o:p></o:p></span></font></p>
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