Iraq Reconstruction: A $54 Million Grant To Support Reconstructing Iraq
28 December 2007 (Iraq Directory)
European Commission decided to grant $54 million dollars for reconstructing Iraq, and this makes European grants and assistance reach more than $837.7 million after donors’ conference in Madrid in 2003.
The European Union said that such an initiative from European forces is to support Iraq, its people and its official institutions, during this difficult period.
A statement by the European Union said that the European Commission allocated part of “$40 million” to be granted through a facility to the international funds for the reconstruction of Iraq (IRFFI). That support is the mechanism adopted in 2004 by multilateral group of European and international community to deliver aid to Iraq. The European Union said that implementing projects will be through the United Nations Development Group and the Trust Fund for Iraq; it will also support the reform of “public financial management” which is essential to build the capacity of institutions of the Iraqi state, adding that the projects would be implemented in cooperation with the World Bank and the Iraqi Credit Fund and that $14 were allocated “to impose the rule of law and justice” for all Iraqis without exceptions, which in turn would treat the national project. Iraq Updates