G-8: World Banks to give $20B to Egypt, Tunisia

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President Obama and other Group of Eight leaders announced Friday that international development banks will give $20 billion to Egypt and Tunisia.

The G-8 leaders said the funding will support the push for democracy in those countries. They did not specify how much money each G-8 nation would provide.
    
"We are really very satisfied by the very strong, very clear, very precise declarations that have come from all the G-8 nations and financial institutions bilateral agencies and development banks," Tunisian Finance Minister Jaloul Ayed told reporters in Deauville

The G-8  is encouraging other countries,  including rich Arab nations, to help the economies in Egypt and Tunisia as well. 

"This isn't the end. Additional funding will likely come from other sources after the G-8, and I think they'll be satisfied with at least the ball starting to roll," Jenilee Guebert of the G-8 Research Group at the Munk School of Global Affairs in Toronto.
     
Uprisings this year overthrew dictators in those two countries but also scared away tourists and investors.

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