: International News
G8 approves $20 bn loan for Egypt, Tunisia
Deauville (France), May 28, 2011
International development banks and
other institutions have as much as $20 billion to loan to
Egypt and Tunisia, the Group of Eight (G8) said in a
post-summit statement Friday.
Representatives of both countries were present at the G8
summit in Deauville, France, and presented a reform programme.
"We welcome the work done by Egypt and Tunisia in presenting
to the international community of donors their programme of
actions towards economic and financial stability and preparing
for more inclusive growth, and stand ready to support them,"
the statement said.
The G8 expressed support for Egypt's decision to request
assistance from the International Monetary Fund (IMF) and
Tunisia's request for a joint and coordinated development
"In this context, multilateral development banks could provide
over $20 billion, including $3.5 billion from the EIB
(European Investment Bank), for Egypt and Tunisia for
2011-2013 in support of suitable reform efforts," the document