World Bank unveils $6 billion in funding for Egypt and Tunisia

Source Reuters via Raw Story

WASHINGTON (Reuters) - World Bank President Robert Zoellick on Tuesday unveiled $6 billion in funding to help Tunisia and Egypt address budget and reserve shortfalls this year and next, following popular uprisings that ended years of dictatorships but which have caused economic stress.

Zoellick said a Group of Eight meeting in France this week will discuss the transitions sweeping countries in the Middle East and North Africa.

He said the World Bank was working closely with the IMF, which is overseeing a separate funding package focused on macroeconomic stability. An IMF mission is currently in Egypt, he added.

For Egypt, the World Bank plans to make available $4.5 billion over the next 24 months, including $1 billion this year in budget support and another $1 billion next year depending on how far political and economic reforms have

More at: http://www.rawstory.com/rs/2011/05/24/world-bank-unveils-6-billion-in-funding-for-egypt-and-tunisia/

What better way to keep the world in thrall.

is democracy. They have destroyed more countries than they can count. Both the IMF and World Bank should be closed down because they have never fulfilled the UN goals. The are world leaders in Friedman's disaster capitalism. The only people who get anything out of their loans are the rich.