EU releases 2nd package for Iraq's reconstruction

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Last updated at: (Beijing Time) Wednesday, December 24, 2003

EU releases 2nd package for Iraq's reconstruction

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The European Commission (EC), the executive arm of the European Union (EU), released on Tuesday the second contribution package of 11 million euros (about 13.53 million US dollars) for the reconstruction in Iraq.

The package was aimed to "help Iraqis voice their own priorities in the political and reconstruction processes," said a press release issued by the EC.

The package is composed of two contributions. The first, totaling 3 million euros (about 3.7 million US dollars), is designated to help restore "institutions for representative governance" in Iraq and promote "the media, rule of law and human rights" in the country.

The second, with a sum of 800 million euros (about 9.84 million dollars), is the first EU contribution to the United Nations and World Bank trust funds which will form the International Reconstruction Fund Facility for Iraq, the press release said.

"These grants 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 July 1, 2004," said European Commissioner for External Relations Chris Patten.

At the Madrid Donor's Conference held in October 2004, the EU pledged a total of 1.24 billion euros (about 1.46 billion dollars)for reconstruction in Iraq.

On Dec.12, the EC decided to release its first contribution package of 29 million euros (about 35.38 million dollars) for Iraq's reconstruction activities.

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