24Oct2003 Pledges for Reconstruction of Iraq

Madrid, 24 October, 2003

International donors pledged at least $33 billion in aid and loans over the next four years at a conference to raise funds for Iraqi reconstruction on Friday. The United Nations and World Bank have estimated that Iraq needs about $56 billion for reconstruction over that period.

Following are details of some of the main contributions made or pledged by various countries and organisations:

KINGDOM OF SAUDI ARABIA - $1 billion package, half in project finance for education, health, infrastructure and housing.

AUSTRALIA - $14 million in aid plus $38 million committed to humanitarian needs and $31 million for reconstruction.

BELGIUM - Five million euros ($5.88 million) for reconstruction. Total 17 million euros ($20 million).

BRITAIN - 296 million pounds ($495.7 million) to March 2006. Total commitment 544 million pounds ($911 million).

CANADA - Already pledged C$100 million (US$76.57 million) for reconstruction and offered a further $C100 million at Madrid. It has also pledged $C100 million for humanitarian aid.

CHINA - 200 million yuan ($24 million).

DENMARK - $55.4 million in aid, of which $26.9 million for reconstruction and $28.5 million for humanitarian assistance. Also providing export guarantee scheme of $158.2 million.

EU - EU and member states pledged a total of 700 million euros ($826 million) for rebuilding in 2004. Of that, European Commission making 200 million euros available from EU budget. Total pledges from EU community budget and member states until 2007 stand at 1.3 billion euros ($1.53 billion). EU also giving 730 million euros ($858.9 million) humanitarian aid to end 2004.

FINLAND - Five million euros ($5.90 million) in 2004 grants.

GERMANY - An estimated 100 million euros ($118 million), about 50 million euros of that through the EU.

INDIA - Further $10 million on top of $20 million given so far, including a hospital and 50,000 tonnes of wheat.

IRAN - Offered to allow oil exports through Iranian terminals or to enter into an oil swap arrangement with Iraq of up to 350,000 bpd. Also promised up to $300 million in buyers and suppliers credits and offered to supply electricity and gas.

ITALY - 200 million euros ($235.9 million) in addition to share of EU reconstruction contribution. Military contribution 230 million euros ($270.6 million) in 2004 every six months.

JAPAN - Pledged a further $3.5 billion in medium-term loans on top of $1.5 billion of grants already pledged, bringing its total of promised aid to $5 billion.

KUWAIT - $1 billion already given in technical and humanitarian aid since April. Offers further $500 million aid.

NEW ZEALAND - NZ$5 million (US$3 million).

NORWAY - 63 million euros ($74.13 million) during 2003-6.

SOUTH KOREA - $200 million from 2003-2007 on top of $60 million earmarked earlier this year.

SPAIN - $300 million in aid to 2007.

SWEDEN - $43 million for 2003-2005 in humanitarian assistance only, until there was either a sovereign Iraqi government or U.N. authority overseeing reconstruction.

TURKEY - $50 million from 2004 to 2007.

UNITED ARAB EMIRATES - $215 million for humanitarian aid and reconstruction work.

UNITED STATES - $20 billion over 18 months.

WORLD BANK - $3-5 billion available over next five years.

IMF - $2.5-4.25 billion over three years.

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