BREAKING NEWS

G8 to extend Arab Spring financing pledge to $38 bln

By REUTERS

SEPTEMBER 10, 2011 12:10

MARSEILLE, France - Group of Eight finance chiefs gathered in southern France on Saturday will pledge $38 billion in financing to Tunisia, Egypt, Morocco and Jordan over 2011-13, a G8 source told Reuters.

Finance ministers and senior officials from the G7 major economies plus Russia are to extend an assistance partnership set up with Egypt and Tunisia at a May summit in Deauville, northern France, to bring in Morocco and Jordan.

The financing, to support reform efforts in the wake of the Arab Spring uprisings, will be in addition to funding that could be available from the International Monetary Fund.

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