G8 commits to supporting Arabs, 40 bln USD for Tunisia, Egypt (2)

10:46, May 28, 2011      

Email | Print | Subscribe | Comments | Forum 

Russian President Dmitry Medvedev attends a press conference during the G8 summit, in Deauville, northwestern France, on May 27, 2011. (Xinhua/Gao Jing)

Western leaders are concerned that without urgent action to stimulate the economies of North Africa and the Middle East and generate jobs for young people, the anger and frustration which sparked the protests might find a new outlet in extremism or precipitate an exodus of immigrants flooding across the Mediterranean to Europe.

"Those young Tunisians today looking for work are impatient," Tunisia's Finance Minister Jelloul Ayed told reporters.

"If the Tunisians don't feel very quickly that democracy is creating the conditions for them to feel better, more prosperous, then we run the risk that the democratic process will fail," he warned after joining the G8 talks.

Half the 40 billion dollars will come from international development banks, 10 billion dollars will come from rich Gulf countries and 10 billion dollars from bilateral donations from G8 members.

Of that, Sarkozy said France would contribute 1 billion euros (some 1.41 billion dollars). Obama has earmarked 2 billion dollars in loan assistance to Egypt. Britain announced 175 million dollars for the two countries and the European Commission has come up with an extra 1.2 billion euros (some 1.69 billion dollars) for the wider region.

More money is expected to come from the International Monetary Fund (IMF), which in a communication to the G8, said it could make 35 billion dollars available to countries in North Africa and the Middle East.

"If we fail to support these countries, we risk giving oxygen to the extremists who prey on the frustrations and aspirations of young people," British Prime Minister David Cameron said after the summit. "You would see, I believe, if we fail, more terrorism, more immigration and more instability coming from Europe's southern border."

【1】 【2】 【3】 【4】 【5】 【6】

Wen Jiabao attends trilateral leaders' meeting of China,Japan and ROK
The Third China-U.S.Strategic and Economic Dialogue
  Weekly review  
May 20   World Economic Forum China office marks fifth anniversary
May 18   China, Pakistan joined in bonds of brotherhood
May 20   'Central axis' of Beijing applies for world cultural heritage
May 20   In pictures: Int'l 'Financial Security' symposium opens in Beijing
May 21   The week in pictures
May 16   Beijing aims for massive influx of overseas talent in 2011
May 16   Singapore election coverage shows Western arrogance
May 16   Chinese naval helicopter conducts target practice in Gulf of Aden
May 17   Strategies for harmony between militaries of China, US
May 17   Pakistani Prime Minister hails China as true friend


  • Do you have anything to say?


Special Coverage
  • 3rd Anniversary Of Wenchuan Earthquake
  • Third China-U.S. Strategic and Economic Dialogue
Major headlines
Editor's Pick
  • G8 commits to supporting Arabs, 40 bln USD for Tunisia, Egypt
  • China, France to work together for success of G20 meeting
  • Chinese vice president stresses innovation, scientific literacy
  • Chinese top legislator calls for deeper business cooperation with South Africa
  • China, Myanmar forge partnership, ink deals on Myanmar president's maiden visit
  • Danjiangkou Reservoir suffering from extreme drought
Hot Forum Dicussion