Thursday, October 23, 2003

Generous aid

Kuwait has pledged to give "generous aid" to Iraq at the donor's confrence taking place in Spain.

Kuwait said yesterday it will offer "generous aid" at an Iraq donors conference opening today in Madrid, but France and Germany said they would be offering no new funds for postwar reconstruction.

Kuwait, which has already spent $900 million on humanitarian aid to its neighbor, is one of more than 70 nations gathering for the two-day conference, where U.S. officials are hoping to capitalize on the spirit of last week's unanimous U.N. Security Council vote.

So far the donations break down like this:

Other contributions are trickling in: The World Bank has promised to lend Iraq between $3 billion and $5 billion in the next five years; Japan has promised $1.5 billion; Britain has pledged $439 million through 2005; Spain has promised $300 million; South Korea has offered $200 million; Canada has pledged $150 million; and Denmark has promised $50 million and 500 troops.


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