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article imageObama to announce billions of funding for Middle East countries

By Owen Weldon     May 19, 2011 in Politics
As part of President Obama’s speech on Thursday on the Middle East and North Africa, he is expected to announce a huge economic aid package for Tunisia and Egypt. The two countries have seen dictators give up their power.
Obama’s package includes money for debt relief and loan guarantees that will be handled by the Overseas Private Investment Corp., totaling $2 billion. An official from the Obama administration says that the cash will be spread out throughout a few years.
Obama is also expected to announce that the World Bank and the International Monetary Fund will provide even more money for additional funding, which will be around several billion dollars, according to NPR.
White House officials say that the funds are needed to provide concrete support for nations that are taking steps toward democracy.
Back in 2009, Obama addressed Cairo, and he called for a new beginning between America and the Muslim world, according to CNN.
However, many people who live in the Middle East and North Africa think that the speeches Obama has made about Cairo are just a collection of ideals that never really go anywhere. Many people think that Obama’s words lack follow-through, and they now want concrete policies that support the people in the Middle East and North Africa.
Marwan Muasher is a former foreign minister of Jordan, and he says that Middle East is not what it use to be, and it is a new environment now. Muasher went onto say that the people throughout the region need to know that their cause is just and how America is going to help and support them.
According to Dailycaller.Officials say that Obama’s economic plans for the Middle East and North Africa will have four areas. Officials say that non-profits, think-tanks and universities will provide much better economic management, and will also make the regions more financially stable. Officials also say that the international agencies will be able to help create a strong private sector, and establish trading zones that are regional.
More about Obama, Billions, Funding, Middle East
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