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2011 New Year Message from the Chairman of the Board of Governors of the EurOrient Financial

Group: “Reclaiming Lost Ground” Today we celebrate a special New Year with a momentous toward more secure, prosperous and equitable world for all: the Year Two Thousand and Eleven. The world is confronted with the worst financial and economic crisis since the Great Depression. The evolving financial crisis, which began within the world’s major financial centers, has spiraled into an economic crisis and an unemployment crisis, and events could next become a social and human crisis with political implications. The crisis has disparate impacts across regions, subregions and countries. This crisis is negatively affecting all countries, particularly developing countries, and threatening the livelihoods, well-being and development opportunities of millions of people. These heterogeneous impacts have added complexity to our common goal of eradicating poverty, reducing inequality and promoting human development. The crises have changed our world in profound ways. Developing and transition countries - many of them already hit hard by current high prices for energy and essential foodstuffs - risk very serious setbacks to their efforts to improve the lives of their populations from any prolonged tightening of credit or sustained global slowdown. The poorest and most vulnerable groups risk the most serious – and in some cases permanent – damage. The crisis threatens to have calamitous human and development consequences. Millions of people all over the world are losing their jobs, their income, their savings and their homes. It is estimated that more than 150 million people have already been driven into extreme poverty, particularly women and children. The crisis contributes to the number of hungry and undernourished people worldwide rising to a historic high of over one billion.

2 January 2011 ECG/ CHNRM /20110201 MEDIA ANNOUNCEMENT

The crisis is further endangering the achievement of their national development objectives, as well as the internationally agreed development goals, including the Millennium Development Goals. I am particularly concerned about the impact on countries in special situations, including least developed countries, Small Island developing States and landlocked developing countries, and on African countries and countries emerging from conflict. I am equally concerned about the specific development challenges of middle-income countries and low-income countries with vulnerable and poor populations. For all these countries, the crisis presents unique challenges to their efforts to achieve their national development goals. Time to recover lost ground in pursuit of our global development objectives, including the Millennium Development Goals Over the past two years we have witness unprecedented cooperation to break the dramatic fall in the global economy to establish the basis for recovery and renewed growth. Our challenge is to ensure that actions and responses to the crisis are commensurate with its scale, depth and urgency, adequately financed, promptly implemented and appropriately coordinated internationally Today, we have set forth our global consensus on the responses to this crisis. Prioritizing our responses will required coherent actions in a manner that captures the interest of all nations in order to achieve a more inclusive, equitable, balanced, development-oriented and sustainable economic development to help overcome poverty and inequality. We must act now. We must avoid reverting to the pre-crisis conditions that denied too many of our fellow human beings a fair chance at a decent living while keeping our planet on a dangerous climate course. Rather, we must work together to establish the basis for a more secure, prosperous and equitable world for all. Let us now bring the power of global partnership to bear on climate change, poverty reduction and food production. Let us begin an economic recovery that is not only robust, but also just, inclusive and sustainable – lifting the entire world. For if we do not do it now, at a moment of crisis, when will we? Global cooperation can enhance our efforts, and we, at the EurOrient Financial Group, stand ready to work with the United Nations Member States and with other towards this noble objective. On this New Year Day 2011, let us resolve to redouble our efforts on behalf of the vulnerable, the powerless, and the defenseless. Let us stand more united than ever – united in purpose to achieve inclusive, sustainable and balanced growth and united in action to make the world a safer, better place.

On behalf of my colleagues at EurOrient Financial Group, I extend my sincere wishes for a productive, development-oriented 2011!

Ron Nechemia, Officer-in-Charge, EurOrient Financial Group

About EurOrient

EurOrient Financial Group is a private sector global development finance institution accredited financial institution by United Nations General Assembly on Financing for Development. The mission of the EurOrient Financial Group is to support the economic and social development efforts of the less developed countries as they, in particular, seek to achieve the Millennium Development Goals (“MDGs”).

The EurOrient’s principal objective is to reducing poverty and promoting sustainable economic growth. EurOrient invests in projects and programs that promote social development, build human capacities, and address host government priorities for investments in physical infrastructure that promote and enhance social development. These projects include roads, transportation and communication systems, water, sanitation and other types of investments with social development outcomes such as improved quality of life and increased human knowledge and skills.

More detailed information can be found on the EurOrient’s website: http://www.eurorient.org/

EURORIENT FINANCIAL GROUP EXTERNAL RELATIONS DEPARTMENT

Public Affairs Media Relations

Phone: 818-990-5080 Phone: 818-206-5322 Fax: 818-990-5566 Fax: 818-990-5566 Email media.center@eurorient.org