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The idea of the fund was first suggested by Kuwait during the economic summit in the Gulf emirate in 2009 but has been slow to get off the ground like many Arab League initiatives requiring members to pledge money. Arab diplomats said oil-rich Saudi Arabia and Kuwait have promised to pay $500 million each and, after the economic-related unrest in Tunisia, additional pledges are pouring in. Egypt's President Hosni Mubarak stressed the importance of economic cooperation, tagging it "a national security" requirement. The 82-year-old president, who chaired the summit, also said investment in the Arab youth will bring future rewards. "The most precious of all our resources and wealth," Mubarak called them. "The issue of employment will remain at the top of all challenges." Saudi commentator Turki al-Dakhail, writing in the al-Watan daily, called for the Arab regimes to end the "starvation" of their nations. "The systematic starvation against people in Tunisia led to an uprising and anger of the people," al-Dakhail wrote. "Starving your dog, will force him to eat you up."
[Associated
Press;
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