BREAKING NEWS

UAE urges G8, IMF to deliver Arab Spring pledges

By REUTERS

FEBRUARY 9, 2012 16:30

ABU DHABI - The United Arab Emirates urged the international community on Thursday to deliver on pledges of billions of dollars of aid that was promised to Arab countries after last year's uprisings but has not been disbursed.

In September, the Group of Eight major nations pledged $38 billion in financing to Tunisia, Egypt, Morocco and Jordan over 2011-13 under the "Deauville Initiative." The International Monetary Fund promised a further $35 billion to countries affected by Arab Spring unrest.

But very little of that money has actually been handed over, as political instability in needy countries deters some donor governments and institutions, and as other donors struggle with budget pressures of their own.

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