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