The Dubai government would offer $9.5 billion in aid to Dubai World conglomerate as part of a restructuring plan.

A view of high rise buildings is seen in Dubai March 23, 2010.

The new funding will include 5.7-billion-U.S.-dollar of the remaining funds from a bailout by Abu Dhabi emirate and internal Dubai Government resources.

However, the proposal still needs approval from international bankers and creditors, who gathered in Dubai on Wednesday to finalize a 26-billion dollar debt plan to restructure the troubled Dubai World conglomerate.

The government of Dubai said it plans to ask all its creditors to agree to restructure their Dubai World loans. As part of that deal, the government plans to recapitalize the conglomerate by offering as equity an 8.9 billion dollars claim in the company, while also pumping in 1.5 billion in new funds, the statement added.

VietNamNet/Xinhuanet