Donations for reconstruction in Iraq

The two-day donors' conference in Madrid for the reconstruction of Iraq ended with modest offers for assisting that war-torn country.

Some 70 countries attended the conference sponsored by the World Bank and the United Nations, but only a handful made sizable donations.

Many countries did not pledge more aid to Baghdad because of their continued reservations about the U.S.-led war on Iraq and the fact that the country still lacks security and stability.

Still, some US$35 billion were committed, to be spent over a number of years as either direct grants or loans.

Still, no matter how vehemently opposed many countries were to the war, there is now a new reality that requires a determined international effort to transform Iraq from a bedrock of instability and insecurity into the regional power that it deserves to be.

Iraq must return to being a major player in the Middle East and the Gulf regions. By all standards, it has the human and natural resources to become an economic powerhouse. The sooner it regains its rightful place among the nations of the area, the sooner it would be possible to recreate a regional environment for peace and progress.

Investing in Iraq now is investing in regional stability and development.

-- The Jordan Times, Amman, Jordan