The Blogiston Post

Politics, money, and war.

Wednesday, October 22

donors conference

Financial Times carries a short article, FT briefing: Iraq donors' conference, outlining the upcoming Donors Conference scheduled for October 23 - 24 in Madrid, Spain.
The biggest pledge has come from Japan, which will provide $1.5bn in grants next year towards the reconstruction of Iraq, making it the second largest Iraq donor after the US.

Japan is also reported to be considering announcing loans - up to $5bn over four years at the conference.

The UK has agreed to provide £550m ($919m) over three years.

The EU has pledged €200m ($235m) next year

Spain has promised €90m ($105m) for 2004 and €270 ($300m) to 2007.

Canada has pledged about $200 million for 2004.

France and Germany have said they would be willing to help train the police and army but not, at least at the moment, consider any bilateral contributions.
FT reports that side meetings will be looking into debt relief for the nation.
The US will discuss Iraq debt forgiveness with several countries on the fringes of the conference. The Paris Club estimates Iraq's existing debts at $21bn.
Visit Jubilee Iraq for information on debt relief for Iraq.


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