Aid For Pakistan Tops $5 Billion: Forbes

Chana R. Schoenberger, 04.17.09, 11:20 AM EDT

Rich countries bet pledges will help stave off extremism, terror.

TOKYO -- Pakistani president Asif Ali Zardari knows about political instability in his country; his wife, Benazir Bhutto, Pakistan's former leader, was assassinated in 2007. So when he flew here to convince the world's donor countries to write him as large a check as possible to fight extremism and poverty in Pakistan, he had some standing.

The world responded Friday with pledges of $5.28 billion in aid over the next two years. The U.S. and Japan each promised $1 billion, while Saudi Arabia agreed to give $700 million, with other countries and organizations making up the balance. The money will arrive in the form of grants and low-interest loans.

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