Thursday, May 19, 2011

Obama will announce a financial aid plan for countries in democratic transition

Washington .- U.S. President, Barack Obama, will announce tomorrow in his speech on Middle East economic aid plan for democratic transition countries include, inter alia, 2,000 million dollars to Egypt in cancellation of debt and guarantees for loans. Obama to decide in the State Department, a speech in which he defined U.S.

policy toward the Arab world and express their support for the movement of civil unrest and processes of democratic reforms in Arab countries, in light of the death the leader of the terrorist network Al Qaeda, Osama Bin Laden in an operation command of the U.S. in Pakistan last day 1. According to U.S.

officials explained today who spoke on condition of anonymity, part of the speech was devoted to exposing a financial aid plan for countries to move forward with democratic reforms, in the belief that the success of the political transition will depend in part of opening "opportunities for economic prosperity." The plan will initially apply to Egypt and Tunisia, the pioneering countries in this transition process, "and seek to promote, in collaboration with multilateral financial institutions, better management, and a" fundamental transformation "of the economy of these countries, which 400 million people currently exported in total the same as Switzerland, with just eight million.

It also aspires to promote trade, investment and integration into these economies, so as to encourage the private sector and creating jobs. For this, among other things, the U.S. supports the mission reorientation of the European Bank for Reconstruction and Development (EBRD), which played an important role in the modernization of the economies of Central and Eastern Europe, to allow to develop "a paper similar transformation "in the Middle East and North Africa.

Will enhance further regional integration of economies, to promote gradually, existing agreements, trade with the U.S. and the European Union. Further, the U.S. provides the Egyptian debt cancellation worth nearly a billion dollars, so that the country can allocate the funds for the payment of these loans to "invest in the future." "We want to ensure that Egypt becomes a very attractive destination for investment, enhance the strength of the Egyptian economy in order to attract private capital, "said an official.

Moreover, the U.S. shall, through the IMS (Internet Corporation for Overseas Private Investment, the investment arm for the development of the U.S. government), one billion dollars in credits to be allocated to infrastructure construction. It also will create an enterprise fund to stimulate private investment.

According to officials, the plan represents part of "a comprehensive strategy to encourage the development of democratic transitions." In his view, "if the economies of these countries progress, this will be a powerful incentive to other countries to follow suit." Although the speech will have a significant economic component, Obama will also address the political and human rights in the region, where the demands for change in January led to changes of regime in Tunisia and Egypt have spread to countries as diverse as Libya, Egypt, Syria, Yemen or Baréin.

After the death of the world's most wanted terrorist, the White House has used his example to highlight how changes occur in the Middle East due to pressure from peaceful citizens and not to terrorist violence, an idea that Obama will reiterate in his speech . The speech comes a day after the U.S.

has announced the imposition of direct sanctions against Syrian President Bashar al-Assad, who has urged to implement democratic reforms. The speech represents the pinnacle of a week dedicated to the Middle East Obama after Tuesday to meet with King Abdullah II of Jordan. On Friday will do the same with the Israeli Prime Minister Benjamin Netanyahu, and on Sunday plans to deliver a speech to the annual conference of AIPAC, the main Jewish lobby in the U.S..

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