Thursday, May 26, 2011

BBC News - Egypt and Tunisia to get $6bn from World Bank

BBC News - Egypt and Tunisia to get $6bn from World Bank: "Egypt, which will receive $4.5bn over two years, is also speaking to the International Monetary Fund (IMF).

Meanwhile, Qatar has offered to make up to $10bn in investments in Egypt.

It comes after the European Bank for Reconstruction and Development - set up to aid post-Communist Eastern Europe - said at the weekend it would start lending to emerging Arab democracies.

Egypt and Morocco had already applied to the EBRD for financial assistance.

But while the lender said it hoped eventually to provide up to 2.5bn euros ($3.5bn) a year to the region, any such wholesale geographic reorientation of its mandate would need the approval of all of its 63 members."

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