Instead, the group noted that development banks and other multilateral institutions have as much as $20 billion to loan to Egypt and Tunisia through 2013 for what the declaration called “suitable reform efforts.”
The declaration also noted that G-8 members are in a position to provide more financial help on a bilateral basis, as Obama announced last week in outlining $2 billion in debt relief and loan guarantees for Egypt. British Prime Minister David Cameron also has pledged $180 million to Arab Spring nations.
French President Nicolas Sarkozy said he hoped another $20 billion in loans would come from the International Monetary Fund and Saudi Arabia, Kuwait and Qatar, kingdoms and emirates concerned by the region’s anti-government demonstrations.
On the summit’s last day, Obama also met with Sarkozy. The two discussed, among other issues, the military campaign in Libya.
France is a playing a leading role in the NATO-led effort, which began with a heavy assault on Libya’s air defenses and other military targets led by the United States. Since then, the U.S. military has assumed a supporting role. Some European leaders have pressed Obama to contribute more to bring the campaign to a decisive conclusion.
Speaking afterward, Obama said the two agreed that “meeting the U.N. mandate of civilian protection cannot be accomplished when Gaddafi remains in Libya directing his forces in acts of aggression against the Libyan people.”
“And we are joined in resolve to finish the job,” Obama said.
Russian President Dmitry Medvedev told Obama on Thursday that Medvedev, too, believed Gaddafi had lost his legitimacy to lead, administration officials said. Russia has never expressed that position before and has often criticized the NATO-led mission against Gaddafi for exceeding the U.N. mandate. Russia has a longer history with Gaddafi than the American administration, and its position further isolates the Libyan leader.
Ben Rhodes, the deputy national security adviser for strategic communications, said Obama and Medvedev didn’t discuss “a great detailed plan of action.” But, he said, the two agreed “that there needs to be forward movement in Libya on the political side.”
“There’s an agreement that the Libyan people deserve a better and different future and that we are going to be in close touch with the Russians as they pursue their conversations with the Libyans,” Rhodes told reporters.