Kananaskis, Alberta ? President Bush and wealthy allies reached out to fight both terrorism and poverty Thursday, offering Russia up to $20 billion to secure vulnerable weapons stockpiles and pledging billions of dollars for Africa, the world’s most impoverished continent.

“We have acted collectively to make sure that globalization benefits all and no continent is left behind,” said Canadian Prime Minister Chretien, who lobbied hardest for the African assistance.

Russian President Vladimir Putin, left, and President Bush share a light moment as they wait for other G-8 leaders and African leaders to get into position prior to the presentation of the Africa Action Plan at the G-8 summit in Kananaskis, Alberta.

The twin aid packages, both of which come with loopholes that could make the monetary goals unreachable, capped a two-day Group of Eight summit dominated by talk of terrorism.

Foreign aid activists complained that the G-8 program for Africa fell far short of what the continent needed to meet United Nations goals of cutting extreme poverty in half and getting millions of children in school by 2015.

But Chretien, at a news conference formally closing the two-day summit, said he believed the G-8 had forged a landmark compact with African nations that would give countries willing to undertake reforms the support they needed.

With soldiers and police on high alert around the secluded summit site, the leaders sought to keep Russia’s deadly arsenal of aging nuclear, biological and chemical weapons out of terrorist hands. G-8 presidents and prime ministers also dramatically increased the commitment to aiding poor nations considered by some a breeding ground for terrorists.

President Bush helped seal the 10-year, $20 billion agreement in a one-on-one meeting with Russian President Vladimir Putin.

The United States would spend up to $1 billion a year over a decade while Europe, Japan and Canada would together match that amount. Bush’s national security adviser, Condoleezza Rice, acknowledged that there was no guarantee that the G-8 partners would come up with their full $10 billion, though Bush believed there would be significant efforts to do so.

In return, Russia will implement the plan under the G-8’s terms, which include access to disposal sites such as facilities where nuclear submarines are dismantled, according to the senior U.S. official.

Moscow also has ensured adequate auditing and oversight authority to its partners, the official said.

The G-8 leaders said they would support projects initially in Russia, but maybe later including former Soviet republics to address non-proliferation, disarmament, counter-terrorism and nuclear safety issues.

The agreement is part of a broader campaign to increase cooperation between the United States and Russia.