EC releases another €11 million for Iraq’s reconstruction
The European Commission (EC) decided this week to release two further contributions totalling €11 million, for reconstruction in Iraq, as part of the €200 million pledged from the EU budget until the end of 2004.
According to an EC press release, this second EU contribution to Iraq's reconstruction since the October Madrid Donor's Conference aims at helping Iraqis voice their own priorities in the political and reconstruction processes. It delivers on the EU's commitment to strengthen the multilateral framework for Iraqi reconstruction, including the UN role in the political and constitutional process.
“These grants, channeled via the multilateral framework, demonstrate that the EU is meeting its Madrid pledge and rapidly disbursing its assistance to help prepare for an orderly hand-over of power to an Iraqi transitional administration on 1 July 2004," said European External Affairs Commissioner, Chris Patten.
The € 11 million is composed of a three million euro contribution from the European Initiative for Democracy and Human Rights (EIDHR) budget and a eight million euro contribution from the Rapid Reaction Mechanism (RRM) budget. At the Madrid Donor's Conference, the EU pledged a total of €1.24 billion ($1.46 billion) for reconstruction in Iraq, including more than €600 million in grants for 2004. — (menareport.com)
© 2003 Mena Report (www.menareport.com)