President Obama will call for billions in aid to Arab nations

President Barack Obama will use his speech to the Arab world today to call for billions of dollars in financial assistance to Egypt and Tunisia as part of a comprehensive approach to the "Arab Spring" movement that he hopes will boost democratic reforms and America's reputation in the region. The aid package, which would unfold over two to three years, would include an estimated $1 billion in debt cancellation, $1 billion in loan guarantees and several billion more in financing from multilateral institutions such as the World Bank, according to three senior administration officials who briefed reporters on condition of anonymity under ground rules set by the White House.