SEARCH

News » International

Updated: September 10, 2011 17:34 IST

G8 promises 38 billion dollars for West Asia democracy

DPA
print   ·   T  T  
International Monetary Fund (IMF) managing director Christine Lagarde, left, talks with Tunisian Finance Minister Jelloul Ayed at the Deauville partnership meeting in Marseille, southern France. Photo: AP
AP International Monetary Fund (IMF) managing director Christine Lagarde, left, talks with Tunisian Finance Minister Jelloul Ayed at the Deauville partnership meeting in Marseille, southern France. Photo: AP

Representatives of several Mediterranean countries were involved in talks, as were leaders of the Transitional National Council, which is working to fully oust the regime of Muammar Qadhafi from Libya.

Four West Asian nations that have seen moves towards more democratic governance this year are set to receive 38 billion dollars in aid for further reform from the Group of Eight (G8) nations, the German Press Agency dpa has learned.

The money would go to Tunisia and Egypt - where uprisings forced regime change earlier this year - and to Morocco and Jordan, where monarchs have liberalized laws in the face of growing unrest. Along with unrest in countries like Syria and Yemen, the movement is commonly known as the Arab Spring.

The move comes as G8 nations - the United States, Canada, Germany, Britain, France, Italy, Japan and Russia - met in Marseilles, France, on the sidelines of a Group of Seven (G7) summit, which excludes Russia, on the world economy.

The talks were being conducted with representatives of several Mediterranean countries, as well as leaders of the Transitional National Council, which is working to fully oust the regime of Muammar Qadhafi from Libya.

The G8 aid is seen as part of an ongoing effort to support the move to democracy in the region. Billions of dollars of aid have been promised. Aid is to take the form of development bank credits, bilateral aid from G8 countries, and assistance from other Arab nations like Saudi Arabia, Kuwait and Qatar.

More In: International | News
The Hindu presents the all-new Young World

An act that triggered a World War

A century ago this day, a double murder carried out by a group of Bosnian assassins became a historic event. »  

National

Business

Cricket

Sport


O
P
E
N

close

Recent Article in International

U.S. criticises India’s “restrictive” religious laws

U.S. State Department released International Religious Freedom report on Monday. »