Wednesday, September 3, 2008

US poised to announce $1B in aid for Georgia

WASHINGTON (AP) — The Bush administration plans to roll out a $1 billion economic aid package for Georgia on Wednesday to help the pro-Western former Soviet republic rebuild after Russia's invasion last month, The Associated Press has learned.

The multi-year proposal calls for spending about half of the total in the administration's remaining five months in office and recommending that the incoming president and his team continue funding the project when they take over in January, a senior official said.

Both the Democratic and Republican contenders for November's presidential elections, Barack Obama and John McCain, have expressed support for Georgia's embattled government in the face of Russia's invasion.

The package, some of which will require congressional approval, will be a substantial U.S. investment in Georgia but is only half the $2 billion a year in assistance Washington provides its closest Mideast ally, Israel.

No comments: