World: Donor Countries Study Iraq Costs

Publisher Name: 
Melbourne Age

In
Abu Dhabi
, representatives of some 40 donor countries, including the
United States
, the European Union and
Japan
, as well as the World Bank, the International Monetary Fund (IMF) and the United Nations, prepared to kick off a two-day conference on rebuilding post-war
Iraq
.


 

Organisers said they were hoping to accelerate the disbursement of $US33 billion ($A42.91 billion) pledged last year for the war-torn country and would be studying proposed donor plans and financing mechanisms.

 


Iraq
hopes $US3.5 billion ($A4.55 billion) will be allocated this year for reconstruction, the country's interim minister of planning and development cooperation, Mehdi al-Hafidh, said.

 

To that end, Iraqi officials and the US-led coalition have compiled a list of some 700 to 1,000 projects which will be presented in
Abu Dhabi
.

 

A source close familiar with the requests said they cover a broad range of subjects both urban and rural, from rebuilding schools and supplying power to homes, to tackling pesticide on farmland.

 

A senior World Bank official has said
Iraq
would only receive some $US500 million ($A650.11 million) out of the $US33 billion ($A42.91 billion) promised by donors up to the June 30 deadline for the transfer of power to Iraqis.

 

The money will come from a trust fund jointly administered by the bank and the United Nations Development Group (UNDG), and is expected to be approved by the so-called Facility Donor Committee when it meets in Abu Dhabi following the presentations by Hafidh and international agencies.

AMP Section Name:War & Disaster Profiteering
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