Finance ministers from the United States, Europe and other leading economies said they were prepared to back assistance to Arab nations that would support good governance and broad-based economic growth.

The joint statement, issued by the United States and France, followed a meeting called to discuss the political unrest that has swept the Middle East and North Africa. The meeting included development lenders.

"We recognise that these transitions are about expanding the freedoms and opportunities of people," the statement said.  "We stand ready to support these countries with responses coordinated with the international institutions, who can bring significant resources and expertise to aid the transitions."    

The statement did not offer pledges of stepped-up monetary aid, instead calling for a "joint action plan" for development banks to steer investment in ways that support job creation and governmental reforms.

Early recommendations on how to achieve those goals in the region will be presented by the end of May, the statement said, but provided no further details.   

The meeting included US Treasury Secretary Timothy Geithner, French Finance Minister Christine Lagarde, and officials from Canada, Japan, Russia, Turkey, Saudi Arabia, Egypt and Tunisia and other countries.   

Political change continues across the Middle East and North Africa. Popular protests forced out the presidents of Egypt and Tunisia, which were specifically mentioned in the statement, and the leaders of Syria and Yemen are grappling with challenges from their own citizens taking to the streets.

Outside powers are hoping a campaign of air strikes will force Libyan leader Muammar Gaddafi to halt attacks against rebel forces and step down.   

Turmoil has boiled over across the region after decades of high unemployment, economic inequality, and only limited political influence for millions of people.   

Lael Brainard, the US treasury undersecretary for international affairs, said the success or failure of the new Middle East could hinge on achieving broad-based growth, creating jobs and implementing economic reforms.
   
"The change under way in the Middle East calls for rethinking and reorienting the international community's engagement," she wrote in an opinion article in Foreign Policy.   

She said the World Bank, International Finance Corporation -- the World Bank's private-sector lending arm -- and African Development Bank could make over $4 billion available for Egypt and Tunisia in the next year.

World Bank President Robert Zoellick has said global lenders must increase their support for the region in the wake of unrest and consider working directly with civic groups in addition to governments.    

As Egypt recovers from the mass protests that ousted President Hosni Mubarak, Cairo is seeking $10 billion in funding from global lenders and rich nations, Egyptian Finance Minister Samir Radwan said on Thursday.

Radwan told Reuters he was seeking a declaration of support from leaders of the Group of Seven rich countries and from global development banks like the World Bank to help ease fiscal strains. - Reuters