How To Make A Arab National Bank And Bank Of America The Easy Way “Would be a huge win for all Arabs in Washington and [Including] the Arab donors . . . they are the only partners for building our national economy, we will start to do something for them,” Mr. Clinton said before the campaign closed.
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The president sought U.S.-Saudi loans for Saudi reconstruction but instead led a $15 billion loan to an American bank. Mr. Clinton cited as a key issue for government finances that the American aid flow to Saudi Arabia and its foreign partners, namely, infrastructure development efforts and loans that help subsidize high-value tourism and other important needs.
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“We did that when Bill Clinton stepped up on the World Bank,” he said, “and that was in 2008 with George Bush. Bill will be back soon.” The White House deferred Mr. Clinton’s request until after other governors from some states, including New York and California, made other decision-making decisions about the economic impact of the loans. Govs from about 10 other states were also considering requiring an evaluation of the loans, which was one reason the secretary seemed more interested in avoiding these questions.
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Other developments are opening up further channels under Mr. Clinton to develop a regional bank of Arab American influence in Asia and the Americas — in particular to issue U.S. exports to the Gulf state. When Saudi Arabia joins Russia and Iran, with energy and banking systems, the administration will have better leverage in Syria and Yemen.
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“This is absolutely the right move by a president seeking to leverage Saudi Arabia to make my blog regional bank,” said Jeremy Blankenship, director of the Carnegie Middle East Study at Johns Hopkins University and a fellow on regional affairs’s Middle East Policy Program. Advertisement Continue reading the main story But Mr. Blankenship called for a direct U.S.-Saudi channel in the negotiations over the Gulf, in a nation of more than 2 million, most of whom rely on oil imports for sustenance.
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“On a smaller scale, perhaps the Gulf must be more than just a port or airport, it must serve a broader purpose compared to just about any other area,” he said. Newsletter Sign Up Continue reading the main story Please verify you’re not a robot by clicking the box. Invalid email address. Please re-enter. You must select a newsletter to subscribe to.
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Please try again later. View all New York Times newsletters. U.S. lenders said Mr.
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Clinton, who had begun closing deals with U.S. banks in early 2008 when he was first speaking at Davos, was looking forward to work with the Saudis to negotiate higher lending standards and transparency on the public economy. But at a previous event of one of his signature events at the time, one Chinese official in Tokyo boasted of their newfound bond business: “U.S.
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banks are going to see the [U.S.] economy growing faster than anybody but China,” he told reporters. The Obama administration has repeatedly reiterated with Republicans and Democrats that they will not allow a more restrictive loan regime to take root in the U.S.
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Mr. Clinton conceded in June that he did not want to go so far as to tighten the relationship with the Saudis to the extent to which it could be used as a leverage. Yet for Mr. Blankenship and others, the White House is much less optimistic about it. “I am certainly optimistic that we have put the brakes on the escalation of the ‘Saudi rivalry’ in several of the Arab relations of the years,” he said.
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“This strategy is clearly showing that the Saudis are a stronger power than many are expecting.” Officials declined to weigh in on the matter, and U.S. officials reached a deal with the Saudis on finance Sunday to curb the Iranian-led drive to cut the flow of oil to Yemen and provide better funds for Yemeni reconstruction programs. Mr.
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Blankenship was willing not to reveal too much of the latest $15 billion bond deal. “I don’t want to make any statement until I see it,” he said,
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