DEAUVILLE, France - Group of eight leaders were to approve billions of dollars in aid Friday to the new democracies Arab with a program designed to foster radical change in North Africa and the Middle East.
The leaders have been at the close of the two-day summit in the North of the France by launching a partnership with the region which would bind cash aid and development progress on democracy and economic reforms in the States who were thrown out of autocratic leaders.
Tunisia and Egypt, whose first ministers will meet with the leaders of seven Western powers over the Russia of G8 Friday, face to face with enormous economic pressures following popular uprisings that toppled their authoritarian rulers of long-standing service.
In a report to the G8, leaders of the Monetary Fund International said Thursday the needs of external financing for the import of oil in the Middle East and North Africa, countries would be top 160 billion dollars over the next three years.
"The region needs to prepare for a fundamental transformation of its economic model," Masood Ahmed, in charge of the IMF's Africa and Middle East, said journalists on the sidelines of the G8 meeting in Deauville.
"This will be greatly facilitated if international actors, including the G8 can enter into a strategic partnership with these countries... where incentives are linked to a social agenda."
The IMF said it can provide approximately $ 35 billion to help stabilize the economies of the countries, but most of the funding must come from the international community.
The World Bank on Tuesday unveiled $ 6 billion of new funding for the Tunisia and Egypt, including revolts inspired popular uprisings to the Yemen, in Jordan, Morocco and Syria and left leader Libyan Muammar al-Gaddafi, fighting to stay in power.
The funds include budget support and loan to consolidate the private sector and encourage new investment.
A World Bank report published the same day, said the needs of the region on the jobs of 50 to 75 million over the next decade to absorb new entrants to the labour market and reduce unemployment.
Diplomatic sources, said that the Summit would also return the extension of the mandate of the European Bank for Reconstruction and development in North Africa and the Middle East. The Bank, created after the cold war to help the former Communist countries to become market economies, lends about EUR 9 billion per year for projects ranging from Croatia in Central Europe in China.
Prime Minister David Cameron UK said Thursday the G8 Summit would show Arab Street that the world was standing behind the demands for greater political and economic freedom.
"We will help build your democracy, will help your savings... we will help you in all the ways we can, because the alternative to a successful democracy is more toxic extremism which has done so much damage in our world.".
However, the State of the world economy means that the extent of the aid on offer is likely to be modest.
The European Union Executive said it had added 1.24 billion euros of subsidy costs to an existing program designed to help its neighbours across the Mediterranean.
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