Middle East & North Africa

What the Iron Man-like character is claiming for his futuristic automotive company is not unheard of. On a systemic basis, mammoth institutional investment—especially from sovereign wealth funds (SWFs)—is flowing into start-ups and technology-oriented publicly traded companies. In this case, Saudi billions would help Mr Musk escape the pressures of being publicly listed. SWFs have invested large sums into high-growth start-ups promising innovation and financial returns. In fact, just this month, Saudi’s Public Investment Fund (PIF) announced a US$1bn investment in Tesla’s rival, Lucid, and a US$2bn stake in Tesla. The rise in SWF balance sheets and activity is having ramifications on global efforts to be more Silicon Valley-like, and on Silicon Valley itself.

This paper is a background review representing part of the initial phase of the Financing the Urban Transition work program. The review builds on a growing body of research that highlights both the importance of national sustainable infrastructure and the need to develop more effective and efficient financing mechanisms for delivering compact, connected cities that meet the UN’s Sustainable Development Goals. While progress has been made in both these areas over the last five years, there remains a policy gap between the international/national level and the municipal level.

"For obvious reasons the coup against President Mohamed Morsi has been compared to the coup against [former Chilean president Salvador] Allende. Emotionally the picture is compelling: democratically elected presidents forced out of office by generals who profoundly hated their politics and who then pursued increasingly violent campaigns against the remaining civilian opposition. In the world of American academic politics the comparison is especially powerful because it suggests that the anti-communism that drove policies a generation ago and now seems shameful and regrettable is surfacing again as “Islamophobia” or an irrational hatred of Islam. Saving democracy, a lost cause in 1973, is now possible and a moral imperative as the events of the past are replayed in a different part of the world with a different cast of characters."

This chapter reviews the current status of efforts to provide high quality schooling to all children between the ages of approximately 6 and 16. It examines rationales for undertaking such an effort, describes the challenges and obstacles these efforts face, suggests means of improving education delivery, and reviews varying estimates of the costs of achieving universal basic and secondary education.