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Arab democracy support fund

Timothy JonesOctober 12, 2012

A number of wealthy nations and international lenders have pledged millions of dollars for a fund to support Arab nations making the transition to democracy.

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Women take part in a demonstration against Moammar Gadhafi at the Green Square in Tripoli, Libya. (Foto:Alexandre Meneghini, File/AP/dapd)
Image: AP

Countries participating in the so-called "Deauville Partnership," formed in response to uprisings last year in Tunisia, Egypt and Libya, announced the new "Transition Fund" after a meeting on Friday in Tokyo, Japan.

Altogether, they promised to donate $165 million (127.6 million euros) to the fund, which aims to help build economic institutions and promote reforms in countries where "Arab Spring" popular uprisings have ousted decades-long dictatorships and helped bring about political change.

Countries are hoping to raise a total of $250 million for the fund.

The partnership includes the Group of Eight major nations - Germany, France, United States, United Kingdom, Russia, Japan, Italy and Canada - as well as oil producers from the Middle East, including Saudi Arabia and Kuwait.

The US pledged $50 million, Saudi Arabia and the United Kingdom $25 million each, and Japan and France $12 million each.

tj/mz (Reuters, AP)