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FINANCIAL NEWS
G8 to boost aid to Arab Spring countries
22 May 2012
(MENAFN) US Undersecretary of State, Robert Hormats, stated that countries of the Group of 8 (G8) have agreed to boost their support to Arab countries that were affected by the consequences of the Arab Spring, reported Arabian Business.
Hormats said that the group will support Egypt, Libya, Jordan, Morocco and Tunisia politically and economically, in order to be able to re-establish their economies, through more access to foreign credit markets, investment and trade.
Moreover, the G8’s capital markets access initiative will help these nations to benefit from foreign capital markets under realistic financing conditions to achieve their financial targets and let government ventures invest in projects that create job opportunities.
It is worth noting that the G8 urged these countries to enhance transparency and accountability, to improve the business climate.
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