Iraq Donors Commit About $1 Bln for Reconstruction

[Barrett808]

Iraq Donors Commit About $1 Bln for Reconstruction
Sun Feb 29, 8:25 AM ET
By Mona Megalli and Heba Kandil

ABU DHABI (Reuters) - International donors said on Sunday they would inject about $1 billion of the $33 billion of aid earmarked for Iraq's reconstruction into two trust funds run by the United Nations and World Bank.

Several countries that opposed the U.S.-led war to oust President Saddam Hussein (news - web sites), including France and Germany, refused to contribute any aid to Baghdad if the United States and Britain -- who currently occupy Iraq -- control the funds.

These countries said they preferred to give aid directly to Iraq or contribute to trust funds run and audited independently.

"This meeting marks the beginning of the expenditure of money into the trust fund," said Andy Bearpark, director of operations and infrastructure for the U.S. authority in Iraq.

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