Obama seeks $770mln for MENA plans

The new fund is part of a $51.6 billion package for the US State Department and the US Agency for International Development in 2013, the US State Department said in a statement issued on Monday.

“The fund will incentivize long-term economic, political and trade reforms -- key pillars of stability -- by supporting governments that demonstrate a commitment to undergo meaningful change and empower their people,” the statement added.

US officials, speaking on condition of anonymity, told reporters that it was at this point unclear how the money would be allocated and that possible destinations for the funds are Syria, Yemen, Tunisia, and Morocco.

The new funding will boost the financial assistance currently provided by the United States to certain Arab countries, officials said.

US Deputy Secretary of State Tom Nides has said the money will provide Washington with the necessary tools and flexibility to fund its initiatives in Arab countries.