The Deauville Partnership:
Helping the Arab Countries in Their Transition to Free and Democratic Societies
Deauville, May 27, 2011
On the impetus of the President of the French Republic, the members of the G8 have committed, within the framework of the 'Deauville Partnership', to helping the Arab countries in their transition to free and democratic societies.
Tunisia and Egypt are the first countries to commit to this transition and to join the Deauville Partnership. The multilateral development banks are prepared to raise more than USD 20 billion, of which EUR 3.5 billion will come from the EIB, to benefit Egypt and Tunisia by 2013.
The G8 members will also stand alongside Tunisia and Egypt. France's action will have two channels: that of the European institutions which will raise, in addition to the action of the EIB, more than EUR 1 billion for their benefit by 2013; and that of the French Development Agency, which will contribute almost EUR 1.1 billion in loans on advantageous terms for the same period to support the transition to democracy of these two countries.
This French direct aid to Tunisia and Egypt — of EUR 425 million and EUR 650 million respectively — will target the economic recovery and the creation of the conditions for more equitable growth, professional training and access to employment. This exceptional effort includes, in addition to immediate budgetary support, a reinforcement of the guarantee systems for the benefit of SMEs, and the development of key infrastructure projects to improve living standards in disadvantaged areas.
Today, the French Development Agency approved a budgetary support loan of EUR 185 million to support economic stability in Tunisia.
Source: G8 and G20 Presidency