Friday, September 5, 2008

Aid to Georgia

WASHINGTON (AP) — The International Monetary Fund said Wednesday it has agreed to lend Georgia $750 million to help rebuild the economy of the pro-Western former Soviet republic after Russia's invasion last month. The loan is intended "to help mitigate the adverse economic and financial consequences of the recent conflict," the IMF said. The United States is expected to roll out a $1 billion aid package to help rebuild the country's war battered infrastructure, the Associated Press reported Tuesday, and European Union aid is expected as well.

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