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G8 summit set to approve money for Arab democracies

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G8 summit set to approve money for Arab democracies


The French beaches of Normandy may be a fitting setting for world leaders to bolster their support for the Arab Spring uprisings. The Deauville resort on the famous seafront is hosting the G8 summit. An historic location during World War II, it is now expected to be the place where a multi-billion euro aid package is approved for two countries who have recently undergone democratic uprisings.

On Tuesday, the World Bank announced funding of more than four billion euros to help transform Tunisia’s economy after it ousted its president in January.

The money will be shared with Egypt, which has already appealed to the IMF for funds after losing tourism and investment money since its uprising in February.

The two-day G8 summit will begin on Thursday and discussions about another Arab nation are expected, as talk turns to Western military involvement in Libya. There could also be an agreement to back other states in the region that are attempting to introduce democratic reform.

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