G-8 leaders pledged on Friday (May 27) to mobilize up to $40 billion worth of economic aid for Egypt, Tunisia and possibly other countries in the Middle East and North Africa region. Of this sum, $20 billion is expected to come from multilateral development banks, while $10 billion will be provided by G-8 countries as bilateral assistance. Qatar and other Gulf states will cover the remaining $10 billion.

The G-8 unveiled this assistance package as part of the Deauville Partnership, which outlines the countries’ commitment to support economic development and political transitions in the MENA region. The partnership is expected to build on the MENA assistance plans already announced by the United States, United Kingdom, World Bank, African Development Bank and European Union, among others.

Appointments:

- Jim Clarken, chairman of Dochas, the umbrella organization of all Irish overseas aid groups.

- Atul Khare, head of the U.N. Change Management Team, which is tasked to implement measures to streamline and enhance the efficiency of the global body’s operations.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.