Turkey’s Babacan says U.S. offered $6 bln in grants

Babacan said $4 billion of the grants would be used to help bolster Turkey’s frail economy and $2 billion would be reserved for military use.

Each $1 billion in grants would facilitate a $6 billion loan guarantee, Babacan told reporters at the Turkish parliament. That would mean total loan guarantees to Turkey could reach $30 billion.
U.S. Secretary of State Colin Powell called Prime Minister Abdullah Gul on Wednesday to urge swift approval by parliament for the arrival of up to 62,000 U.S. troops to set up a northern front against Iraq in the event of a war.