Iraq Pleased with Aid Promises

World | October 25, 2003, Saturday // 00:00

Iraqi officials say they are pleased with the outcome of a donors' conference in Madrid, which produced pledges of at least USD 13 B for the reconstruction of their country. The head of Iraq's governing council, Ayad Allawi, said the balance between grants, loans and potential oil revenue was almost right. US President Bush thanked donors and said a free Iraq would serve as an example throughout the Middle East. But even adding the USD 20 B already pledged by the US, the USD 33 B total falls short of the estimated USD 56 B needed for reconstruction.
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