UK pledges more support for Egypt in new role as head of G8
The UK, which assumed the presidency of the G8 at the beginning of new year, has admitted that Egypt has not been given the support it needed after its revolution.
“We understand Egypt’s disappointment at the level of the support by the G8 under the US presidency,” a high-level UK official told Ahram Online.
He added that his government plans to push ahead the Deauville process to translate pledges of support into action.
The G8 is a forum for the governments of the world's eight largest economies. It includes the US, UK, Canada, Russia, France, Italy, Japan and Germany.
The UK official pointed out that his country does not have the ability to help Egypt with billions, so the Deauville process “is the best way to support Egypt as the big countries, including the UK, which wish to help, and the international financial institutions are part of it.”
“We are committed to push this process forward," he said.
The G8 launched the Deauville Initiative during May 2011 G8 Summit in Deauville, France with the aim of supporting Arab Spring countries.
The initiative is a partnership with Arab countries in transition towards “free, democratic and tolerant societies.”
The partnership includes Canada, Egypt, France, Germany, Italy, Japan, Jordan, Libya, Kuwait, Morocco, Qatar, Russia, Saudi Arabia, Tunisia, Turkey, the United Arab Emirates, the UK, the US and the European Union.
It also includes international financial institutions and organisations committed to supporting reform in Egypt, Jordan, Libya, Morocco and Tunisia.
- Impetus from within: why the Arab World needs a very Arab 'Marshall Plan'
- 'Fiscal juggling': just how many economic priorities will Saudi Arabia's new King have to focus on?
- Despite Erdogan's 'harsh rhetoric', Turkish-Israeli is still booming
- UAE is best MidEast economy for attracting talent, index says
- The Arab Spring's success story: what will it take for Tunisia to unlock its full economic potential?