Middle East News

G8 to pledge 20 billion dollars to Egypt, Tunisia

May 27, 2011, 9:57 GMT

Deauville, France - The leaders of Tunisia and Egypt were expected to sign a multi-billion-dollar partnership Friday with rich nations at a Group of Eight (G8) summit in the French city of Deauville.

The European Union and Britain have already pledged substantial aid to Arab countries that make the transition to democracy.

International financial institutions such as the International Monetary Fund are to provide an additional 20 billion dollars in loans over the 2011-2013 period, diplomats in Deauville said.

The so-called Deauville Partnership is expected to make the aid contingent on countries in the Arab world implementing democratic reforms.

On the opening day of the two-day summit Thursday, the G8 condemned the violent crackdowns on anti-government protesters in countries such as Syria.

The leaders also discussed the NATO-led intervention in Libya and agreed Libyan leader Moamer Gaddafi 'must go.'

'We agreed we have made progress in the Libyan campaign,' US President Barack Obama told a press conference with French President Nicolas Sarkozy on Friday.

But the task would not be complete while Gaddafi remained in power and continued using his weapons against the Libyan people, Obama said.

On Thursday, British media reported Britain had followed France's lead in deciding to deploy attack helicopters in Libya, taking the fight closer to the ground.

Among other issues discussed in Deauville were the world economy, the need for international nuclear safety standards and a controversial French proposals for regulating the internet.