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Submitted by unname1 on Fri, 05/06/2011 - 10:07
Libyan rebels won a financial lifeline potentially worth billions of dollars from a group of Western and Arab countries on Thursday, as NATO planes struck forces loyal to Muammar Gaddafi in the west.

Ministers from an anti-Gaddafi coalition called the Libya contact group, including the United States, France, Britain and Italy, as well as Qatar, Kuwait and Jordan, agreed in Rome to set up a fund to help the rebels, who are desperately short of cash.

Secretary of State Hillary Clinton said Washington would seek to unlock some of the US$30 billion of Libyan state funds frozen in the United States to help the rebel movement.

A senior US official said Washington hoped to free up a "substantial sum" to meet humanitarian needs but it would only be a small fraction of the US$30 billion frozen by Washington.

Italy, host of the Rome meeting, said a temporary special fund would be set up to channel cash to the rebel administration in its stronghold of Benghazi in eastern Libya.

Kuwait pledged US$180 million, while Qatar promised US$400-to-US$500 million. France said it was evaluating its contribution to the fund, which should be operational within weeks.

Reuters/VOVNews

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