Contributions to reconstruction in Iraq

By
Oct 19, 2003, 10:20

Email this article
Printer friendly page

LONDON, Oct 17 (Reuters) - Spain on Friday pledged $300 million of economic aid to Iraq to 2007, making it one of the world's most generous donors to Iraqi reconstruction.

An international October 23-24 donors' conference in Madrid aims to raise $36 billion, but looks like falling well short of that figure.

Following are details of some of the main contributions so far made or pledged by various countries and organisations:
BRITAIN - Foreign Secretary Jack Straw said Britain will pledge an additional 375 million euros ($438 million) in new money over the next two full years for reconstruction. Added to spending since April this year, this puts Britain's total commitment to Iraq at 550 million pounds ($912 million).

EUROPEAN UNION - EU foreign ministers meeting in Luxembourg set a contribution of 200 million euros ($235 million) from EU coffers for 2003-04. This will be topped up by individual member states who wish to do so.

JAPAN - Japan said it will provide $1.5 billion in grants in the near term, targeting areas such as electricity, education, water and employment, and would help rebuild infrastructure and improve security. The donation would make it the biggest single national donor to Iraq after the United States so far.

SOUTH KOREA - South Korean technology companies are gearing up for reconstruction projects in Iraq, encouraged by signs that Seoul appears to be tilting towards sending more troops to the country.

SPAIN - Spain has pledged $300 million of economic aid to Iraq to 2007. Spain is due to host the international donors' conference in Madrid on October 23-24.

SWEDEN - Sweden, normally a major aid donor, said it would offer only humanitarian assistance until there was either a sovereign Iraqi government or U.N. authority overseeing reconstruction.

UNITED STATES - Washington has already pledged to contribute $20 billion toward rebuilding Iraq over 18 months. The White House expects to channel some $5 billion a year of Iraqi oil revenues into reconstruction, starting in 2005.