French Finance Minister Francois Baroin announced the massive increase at a Group of eight finance ministers’ meeting in Marseille.
The money will help the Arab states to weather short-term economic instability.
“We are facing an historical transformational moment, and while there are downsides, there is enormous enthusiasm,” International Monetary Fund (IMF) Chief Christine Lagarde said.
Representatives from the four states were in Marseille to explain to donours and lenders how they planned to re-launch their economies and to hear what help they can expect from the world’s major economic powers.
Officials from Libya’s new government, whose fighters have taken control of most of their country but are still battling remnants of strongman Muammar Gadaff’s forces, were also in the southern French city as observers.