G-8 approves billions for Africa, Russia

KANANASKIS, Alberta -- President Bush and wealthy allies reached out to fight both terrorism and poverty Thursday, offering Russia up to $20 billion to secure vulnerable weapons stockpiles and pledging billions of dollars for Africa, the world's most impoverished continent.

"We have acted collectively to make sure that globalization benefits all and no continent is left behind," said Canadian Prime Minister Chretien, who lobbied hardest for the African assistance.

The twin aid packages, both of which come with loopholes that could make the monetary goals unreachable, capped a two-day Group of Eight summit dominated by talk of terrorism.

Foreign aid activists complained that the G-8 program for Africa fell far short of what the continent needs to meet United Nations goals of cutting extreme poverty in half and getting millions of children in school by 2015.

But Chretien, at a news conference formally closing the two-day summit, said he believed the G-8 had forged a landmark compact with African nations that will give countries willing to undertake reforms the support they need.

"Of course people will say it is not enough," Chretien said. "But it is a departure" from recent years when wealthy countries were cutting foreign aid budgets.

With soldiers and police on high alert around the secluded summit site, the leaders sought to keep Russia's deadly arsenal of aging nuclear, biological and chemical weapons out of terrorist hands. G-8 presidents and prime ministers also dramatically increased the commitment to aiding poor nations -- considered by some a breeding ground for terrorists.