Tuesday, May 8, 2018

Lack Of U.S. Help Rebuilding Or Developing Iraq


In February 2018 Kuwait hosted an investment conference to help raise money for Iraq’s rebuilding and development. Beforehand, then Secretary of State Rex Tillerson said that the United States would not donate anything to the reconstruction effort. That reflected President Trump’s sentiment that funds that had gone to the Middle East had done little and was a “mistake,”

At the Kuwait meeting the U.S. pushed private investment and getting the Gulf States to contribute. The U.S. Export-Import Bank did say that it would sign a memorandum of understanding with Iraq for $2-$3 billion to help finance projects and trade. At the start of May however, the Intercept talked with the Bank and the Overseas Private Investment Corporation and neither said they had any projects planned for Iraq. The State Department is in transition with Secretary Tillerson having been fired so there could be a period before it works out a plan for what the Export-Import Bank and Overseas Investment Corporation could do in Iraq. The conference was also only three months ago. On the other hand, maybe America really isn’t going to help since the White House doesn’t seem much interested in Iraq after the war with the Islamic State ended.

SOURCES

Agence France Presse, “Iraq banks on private sector for post-IS reconstruction,” 2/9/18

Cocker, Margaret and Harris, Gardiner, “Iraq Wants $88 Billion for Rebuilding. Allies Offer a Fraction of That,” New York Times, 2/13/18

George, Susannah and Hinnant, Lori, “Few ready to pay to rebuild Iraq after Islamic State defeat,” Associated Press, 12/28/17

Gordon, Michael and Coles, Isabel, “Defeat of ISIS in Iraq Caused $45.7 billion in Damage to Infrastructure Study Finds,” Wall Street Journal 2/12/18

Magid, Pesha, Carrie, Shawn, “Destroyed And Saved,” The Intercept, 5/3/18

Mostafa, Mohamed, “U.S., Iraq sign USD3 bn memo for transport projects,” Iraqi News, 2/13/18

2 comments:

Anonymous said...

what you think about 7 trillion that US Presedent asking the gulf contries to pay still there money in puket to devlop iraq?

Joel Wing said...

Kuwait and Qatar were major donors to Iraq during the entire war with the Islamic State. The Saudis are trying to improve ties as well and talking about investing. Only the latter seems like the U.S. might have had a hand in.

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