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umber of countries, hence reducing any potential geopolitical complications associated with investments made by a single country SWF, be it China or the United Arab Emirates. Today, the central banks and SWFs of surplus countries have at least $8 trillion dollars of assets. If we pool even 10% of these assets into an M-
ident Robert Zoellick proposed that SWFs channel I% of their assets to productive and profitable projects in developing countries such as in Africa. World Bank's private sector arm International Finance Corporation (IFC) subsequently set up a subsidiary IFC Asset Management Company to pool assets from SWFs fo
rging markets. Joseph Stiglitz of Columbia University recently argued for the importance of channeling surplus into productive uses in his speech at the World Bank in September. For the concept of pooled investable assets to work, we need three primary principles, so the fund could be structured attractively to
NFORMATION THEREIN !S STRICTLY CONFIDENTIAL AND THEREFORE MAY NOT BE DISTRIBUTED TO ANY THIRD PARTY OR THE PUBLIC IN GENERAL. NOTICE TO RESIDENTS OF THE UNITED ARAB EMIRATES (“UAE”) BY RECEIVING THIS MEMORANDUM, THE PERSON OR ENTITY TO WHOM IT HAS BEEN ISSUED UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT THIS MEMORANDUM HAS
its international development strateqy — In the near term, the Company is focusing on opportunities identified in the United Kingdom, Saudi Arabia, the United Arab Emirates and China. Depending on the state and organization of each country’s education sector, KUE’s development will be executed through cooperation with go
ompetitive in the global economy, countries are investing heavily in the development of their human capital, especially at young ages — According to the World Bank's Worid Education Indicators, worldwide enrollment rates in pre- primary education increased by 37% from 1995 to 2003." — KUE believes that education
d in the process frustrate Bandar's machinations). On Egypt, the State Department is sending a team soon to the Gulf to work with Saudi Arabia and the United Arab Emirates on financial and political assistance to help Egypt's transition to civilian democracy. On Syria, the United States is beginning to explore the pos
denies Palestinians access to water from the Jordan River and makes it almost impossible for them to dig new wells, even as it uses, according to a World Bank estimate, more than 80% of the West Bank's groundwater). Palestinians will still be held up at Israeli army checkpoints and harassed or arrested by
Dubai: Research is issued by UBS AG Dubai Branch within the DEC. FS intended for professional clients only and is not for onward distribution within the United Arab Emirates Rana: this publication is distributed by US$ (France) S.A., French *societe anonyme" with share capital of E 125.726.944, 69, boulevard Haussmann 1-
ssitates painful tradeoffs between deflation in the periphery and inflation in the core. Structural reforms, too, will be needed. According to the World Bank's "Doing Business" rankings, it is easier to do business in Mongolia than it is in Italy. On this front, we are heartened by the announcement this ye
Entities connected to both United Arab Emirates and World Bank

Jeffrey Epstein
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Barack Obama
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United States
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George W. Bush
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Donald Trump
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Joe Biden
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Bloomberg L.P.
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Bill Clinton
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Marc Rich
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Department of Justice
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Bahrain
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Prince Andrew
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Prince Charles
PERSONLeon Black
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Julie K. Brown
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Benjamin Netanyahu
PERSONEmmy Taylor
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Middle East
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Virginia Giuffre
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Michael Jackson
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