G-8 Leaders met today at Camp David to carry forward the work of the Deauville Partnership with Arab Countries in Transition, which was launched as a long-term, enduring partnership to respond to the historic changes in some of the countries in the Middle East and North Africa region. One year ago the G-8 launched the Deauville Partnership with Arab Countries in Transition to support the democratic transition and to strengthen governance, foster economic and social inclusion, create jobs, support private sector-led growth, and advance regional and global integration. Progress towards these objectives is more important than ever.
For the Deauville Partnership, the U.S. led the push for ratification of the amendments to the Articles of Agreement as required to expand the activities of the European Bank for Reconstruction and Development (EBRD) to Egypt, Tunisia, Jordan, and Morocco. With the changes to the EBRD Charter, the EBRD will activate the “special fund” with up to $1.3 billion in lending and investments this year, and, with full ratification of the charter amendment, up to $4 billion over the next three years.
This investment will bring the EBRD’s expertise in transition economies to the countries committed to economic transformation, supporting broad based private sector development, including the financing of small and medium sized enterprises (SMEs) and the creation of much-needed jobs.
Efforts are on-going to complete the ratification process as soon as possible.
 Countries in the Partnership currently include the five Partnership countries (Egypt, Tunisia, Jordan, Morocco, and Libya), the G-8, Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, and Turkey. The International Financial Institutions include the African Development Bank, the Arab Fund for Economic and Social Development, the Arab Monetary Fund, the European Bank for Reconstruction and Development, the European Investment Bank, the Islamic Development Bank, the International Finance Corporation, the International Monetary Fund, the OPEC Fund for International Development, and the World Bank. The Organization for Economic Co-operation and Development is also a Partnership member.