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Aid for Pakistan in terror fight Donors pledge $5bn for Pakistan
(40 minutes later)
The United States and Japan have each pledged $1bn (£671m) to Pakistan so far at an international donors conference. International donors have pledged more than $5bn (£3bn) to help stabilise Pakistan, at an aid conference co-hosted by Japan and the World Bank.
The meeting, in Tokyo, is to help Pakistan stabilise its economy amid fears that financial woes could lead to increased support for militant groups. Nearly 30 countries and international organisations met in Tokyo to offer financial support to enable Pakistan to fight off Islamic extremism.
About 40 countries and organisations are represented at the meeting. The United States and Japan each pledged $1bn (£671m).
The Japanese Prime Minister, Taro Aso, has said that ensuring stability in Pakistan is key in the fight against terrorism in the southwest Asia region. In return, President Asif Ali Zardari said Pakistan would do its utmost to defeat militants in its border areas.
Analysts have suggested that a total of up to $6bn might be pledged at the meeting. Pakistan's stability is being threatened by al-Qaeda and Taleban forces in the lawless northwestern areas neighbouring Afghanistan.
We lose, you lose Pakistan's President Asif Ali Zardari promised to use the money to "fight this tremendous challenge".
Pakistan is home to militant groups, many in the lawless northwestern areas bordering Afghanistan. He also warned those attending the Tokyo conference that the threat of terrorism did not "end on my border".
"Without stability in Pakistan, there is no stability in Afghanistan either," Mr Aso said when opening the conference.
"Stability in border areas is a key and I want to stress that the international community supports comprehensive strategies by the two nations," he said.
Pakistan's President Asif Ali Zardari spoke of his fear that the world does not fully realise the extent of threats facing his country.
The donor conference is the first of its kind for Pakistan
"We are willing to fight. Despite the fact that I lost the mother of my children, I have taken up this challenge," said Mr Zardari, the widower of assassinated former Prime Minister Benazir Bhutto.
"I am hoping, and with all humility, asking of the world to help us fight this tremendous challenge, which not only do we face, but it doesn't end on my border," he said.
"If we lose, you lose. If we lose, the world loses," he said."If we lose, you lose. If we lose, the world loses," he said.
Down-paymentsDown-payments
The donors' meeting is supported by the World Bank and attendees include China and Saudi Arabia.
The US pledge of $1bn was described as a down-payment on the previously announced $1.5bn already promised to Pakistan for each of the next five years.The US pledge of $1bn was described as a down-payment on the previously announced $1.5bn already promised to Pakistan for each of the next five years.
The European Union promised $640m over four years, while reports said Saudi Arabia had pledged $700m over two years.
Japanese Prime Minister Taro Aso said that ensuring stability in Pakistan was key in the fight against terrorism in the southwest Asia region - and to the peace and stability of the international community.
Separately, a $7.6 billion bailout has been granted by the International Monetary Fund to avert the country's most recent balance-of-payments crisis.Separately, a $7.6 billion bailout has been granted by the International Monetary Fund to avert the country's most recent balance-of-payments crisis.
But Pakistan has resisted international pressure to tax the small landowning elite where most political power resides.But Pakistan has resisted international pressure to tax the small landowning elite where most political power resides.
Economic growth is expected to slow to between 2.5% and 3.5% for the year to June 2009, a rate considered too slow to find jobs for Pakistan's population of 170m.Economic growth is expected to slow to between 2.5% and 3.5% for the year to June 2009, a rate considered too slow to find jobs for Pakistan's population of 170m.