BAHRAIN: DECLARATION ON INNOVATIVE SOURCES OF

UNCLAS MANAMA 001315

SIPDIS

SENSITIVE

E.O. 12958: N/A
TAGS: ECIN EAIR EAID EFIN BA UNGA
SUBJECT: BAHRAIN: DECLARATION ON INNOVATIVE SOURCES OF
FINANCING FOR DEVELOPMENT

REF: STATE 162146

Sensitive but unclassified; please protect accordingly. Not
for Internet distribution.


1. (SBU) Pol/Econ chief September 11 delivered reftel
demarche concerning U.S. views of the "Declaration on
Innovative Sources of Financing for Development" to MFA
Director for International Organization Affairs Ghassan
Shaikho. Shaikho was surprised to hear about this initiative
and wondered aloud why representatives of the sponsoring
governments -- Algeria, Brazil, Chile, France, Germany, and
Spain -- had not contacted the GOB. He thought perhaps they
were not serious about the Declaration and may have proposed
it as a trial balloon.


2. (SBU) Shaikho understood our position and agreed that the
Declaration did not sound like a good idea. The
International Finance Facility would seemingly duplicate
instruments of existing international financial institutions
without providing any additional value added. He pledged to
inform the Bahraini mission to the UN in New York of our
views.

MONROE