Iraq’s promised reconstruction funding will lag
Significance The United States and Iran sent their foreign ministers and 74 other countries also participated, along with many multilateral organisations, NGOs and private sector representatives. However, pledges were vague and even the most generous interpretation of aggregated funds -- 30 billion dollars, mainly in credit and investment pledges, not grants -- fell far short of the 60-88 billion dollars estimated to be needed. Impacts The relatively low level of pledges could harm the prime minister’s electoral prospects. Investments could flow to more prosperous areas rather than those worst affected by war. A failure to rebuild the economy in Sunni areas could catalyse future extremism.