Daniel Gustafson, Deputy Director General Programmes, FAO. Photo: FAO
Daniel Gustafson, Deputy Director General Programmes, FAO. Photo: FAO
Daniel Gustafson, Deputy Director General Programmes, FAO. Photo: FAO
Daniel Gustafson, Deputy Director General Programmes, FAO. Photo: FAO

Syria critically in need of rehabilitation of natural resources says FAO


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The impact of years of conflict-related environmental damage in Syria will have long-term repercussions on the livelihoods of civilians that urgently need to be mitigated, the Food and Agriculture Organisation (FAO) warned on the side-lines of the Brussels III conference on Syria.

After eight years of war, Syria lies in tatters, its resources contaminated and its land riddled by trenches and unexploded ordinance. FAO Deputy Director-General Daniel Gustafson told The National much can and should be done to rebuild rural livelihoods, but the country's political situation means red lines must not be crossed.

“Much of the population is rural and we can get people producing again on a small scale without huge investments,” said Mr Gustafson. “That’s the bigger strategy.”

This strategy is also the only viable option for an organisation caught between donors’ wishes and the responsibility towards its member states. Syria is one of FAO’s 194 member nations and the embattled regime of President Bashar Al Assad is still the legitimate interlocutor within the international body.

FAO therefore works in close coordination with the Ministry of Agriculture, but is also bound by donors to avoid giving financial assistance to a government accused of war crimes against its own population.

“There are limitations from the donor community on how they want their money to be used and they are real clear,” Mr Gustafson said.

This makes long-term rehabilitation projects impossible to carry out and shifts the focus of the organisation on community-level projects.

“We are not going to do reconstruction, that’s not going to happen,” Mr Gustafson said. “There are red lines on what you can do and what you can’t do.”

Almost 42 per cent of the population in Syria is estimated to live in rural areas, according to the World Bank. FAO is prioritising helping the most vulnerable improve their access to food, nutrition and income through seed assistance and animal vaccination project.

Catering to the 10 million people who are estimated to be food insecure inside Syria will also require natural resource management and rehabilitation. “There is a lot of water infrastructure [reparation] and a lot of remediation of the land that is going to have to be done,” Mr Gustafson said.

Water resources and conflict-related pollution must be prioritised, according to FAO, which is preparing to attend the international Water Desalination Conference in Cairo in April, focusing on desalination researches, technologies, economies and sustainability in the Arab region.

Despite the political constraints, Mr Gustafson said that “at all points along the crisis there are things that you can do to help people [inside Syria].”

The EU will be making its pledges for humanitarian aid to the Syrian people on Thursday. As food insecurity levels are expected to remain high, strengthening agricultural production is essential to ensure availability and access to food.

FAO requires $120 million (Dh440.7ml) to assist 3.5 million people from January to December 2019.

What is graphene?

Graphene is extracted from graphite and is made up of pure carbon.

It is 200 times more resistant than steel and five times lighter than aluminum.

It conducts electricity better than any other material at room temperature.

It is thought that graphene could boost the useful life of batteries by 10 per cent.

Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

Generation Start-up: Awok company profile

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Sector: e-commerce

Size: 600 plus

Stage: still in talks with VCs

Principal Investors: self-financed by founder

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Man of the match: Harry Kane (England)

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Uefa Nations League: How it works

The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.

The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.

Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year