International powers agree on new fund for Libyan rebels

Twenty-two nations and international organizations met in Rome on Thursday to figure out how to help the Libyan rebels, who say they need up to $3 billion in the coming months for military salaries, food, medicine and other basic supplies.

A new fund to aid Libya's rebels was agreed upon, with the US and Europe promising to tap frozen assets of Muammar Gaddafi's regime despite still unresolved legal issues.

The fund will initially receive donations and loans from the international community, while the assets -- estimated at 30 billion dollars (20 billion euros) for the US alone – will be used to finance it at a later date.

“It sends a very obvious and clear message to the world – to the Arab world and to the rest of the world – that the insurgents have international support,” said James Walston, Professor of International Relations at The American University of Rome.

“Whoever supports them hopes that they will have an advanced interest in the new Libyan government, if an when the Transitional National Council actually takes power.”

It was the second time the International Contact Group for Libya convened after it held its inaugural meeting in Qatar. Participants agreed to hold their next meeting in the United Arab Emirates in June.

“What is important at the moment for everyone is that Gaddafi leaves. What happens afterwards, they hope they will be able to condition and maybe control,” Walston told Vatican Radio.

Listen to Prof James Walston’s full interview with Kelsea Brennan-Wessels: