DUBAI // The United Nations needs US$716 million (Dh2.62?billion) to prevent a humanitarian crisis in Yemen this year, and it hopes part of that will come from this region.
The budget for this year, to cover basic amenities for the 13 million people in Yemen who do not have access to safe water and 10.5 million who have no secure access to food, was outlined in Dubai yesterday.
Representatives of the Yemen office of the UN department for coordination of humanitarian affairs said the budget was $134m higher than last year.
“We have more baseline data this year, which proves to us the situation is worse than we expected,” said Ismail Ahmed, UN humanitarian coordinator for Yemen.
“Last year was a transitional year. This year we have more warehouse space, more partners and more capacity to implement. We are confident we’ll meet our objectives.”
Mr Ahmed said the agency had 89 charities and NGOs, regional and international, delivering or funding key goals of the response plan.
The Khalifa Foundation and Red Crescent are chief among UAE donors, and the foundation has already pledged Dh500m for food aid to Yemen. “From what we have seen, the situation in Yemen is deteriorating – and that’s alarming,” said Mohammed Al Bastaki, deputy director general of the Khalifa Foundation. “The country has been and will continue to be a core interest of our activity.”
So far, the largest proportion of funds already secured has come from the World Food Programme, a UN body.
Lubna Alaman, country director for the programme, said the agency was going to spend $250m to secure food for five million people.
“We are committed to giving them monthly food, they are totally dependent on our supplies,” she said.
Ms Alaman said the number of people facing severe food shortages had increased by 88 per cent between 2009 and last year, caused by unrest within the country and global food price increases.
To avoid any duplication of aid efforts, a coordination group will be set up in Sanaa this year for charities involved in delivering food aid.
Ms Alaman said the Khalifa Foundation and the Qatar Charity had both shown an interest in being part of the committee.
"They're very interested in being part of this effort," she said.
"It's important to put it all together, so we can see where we're going and not duplicate efforts."
mcroucher@thenational.ae
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The specs
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Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA