Promises of money for Iraq are being made today at a meeting of donors in Madrid seeking to find the $56 billion needed to rebuild the war-torn country over four years.
The biggest individual contributions of EU member states will come from Britain, Spain and Italy, the United States' closest allies in Europe.
|
Some countries that opposed the US-led invasion of Iraq are reluctant to pay for rebuilding with France and Germany promising no money beyond what they had already pledged.
Governments will confirm later today the extent of their financial pledges to the rebuilding of Iraq. Donor countries will speak in turn as the donors' conference in Madrid comes to an end.
US officials voiced optimism that the conference will confound expectations and make a significant contribution toward the estimated $56 billion cost of rebuilding the war-ravaged country.
"From the indications we have so far, there'll be quite important contributions by some of the Arab countries," Iraq Governing Council member Mr Adnan Pachachi told a news conference.
In central Madrid, several thousand marchers demonstrated against the conference last night, waving banners reading: "We Won't Pay For Your Pillage" and "Bush's Vultures."
Washington plans to contribute $20 billion over 18 months. The World Bank will make around $4 billion available, and the International Monetary Fund will also provide financial support.
Agencies