World Bank sets $6 bln in aid for Egypt, Tunisia

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WASHINGTON: The World Bank announced Tuesday up to $6 billion in new aid to Egypt and Tunisia to help modernize and revitalize their economies after revolts which ejected long-serving strongmen earlier this year.

"The people of the Middle East and North Africa want dignity, respect, jobs and the chance for a better life. Fulfilling the promise of the Arab Spring will mean real reforms that deepen inclusion, promote participation and expand opportunity," said World Bank president Robert Zoellick.

The announcement came ahead of the Group of Eight meeting in France slated for Thursday and Friday, where leaders are expected to muster new financial support for Middle East and North African countries facing political and economic upheaval.

Zoellick said the aid was contingent on the governments seriously pursuing reform.

"Our support, and that of others, can sustain momentum and accelerate progress, but only if coupled with real reform," Zoellick said in a statement.


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