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Tens of bn of dollars needed to rebuild Iraq: Bremer
Washington, Aug 27: Several tens of billions of dollars are needed to rebuild Iraq`s infrastructure, but the country is not in chaos and the future is optimistic, US occupation coordinator Paul Bremer told The Washington Post.
Washington, Aug 27: Several tens of billions of dollars are needed to rebuild Iraq's infrastructure, but the country is not in chaos and the future is optimistic, US
occupation coordinator Paul Bremer told The Washington Post.
Bremer said meeting Iraq's electrical demand alone would require two billion
dollars and 12 months of work, while providing clean water would cost 16 billion dollars over four years.
Overall, he estimated reconstruction would cost "several tens of billions of dollars".
Bremer's calculations come on the heels of congressional predictions that the US federal deficit will balloon to a record 480 billion dollars in fiscal 2004, amid mounting criticism against the US-led occupation, which has now claimed as many US troops' lives as those killed during the Iraq war.
Besides the costs of rebuilding, the United States is spending an estimated four billion dollars a month on the military occupation of Iraq.
An unnamed State Department official told The Post the White House planned to seek a "huge" supplemental spending bill from Congress. Other officials said an "emergency infusion" was also being considered to keep Iraq's coalition provisional authority from running out of cash.
To provide one source of funding for reconstruction, Bremer said, a "very intense dialogue" is underway with Iraq's governing council to open Iraq to foreign investment.
Overall, he estimated reconstruction would cost "several tens of billions of dollars".
Bremer's calculations come on the heels of congressional predictions that the US federal deficit will balloon to a record 480 billion dollars in fiscal 2004, amid mounting criticism against the US-led occupation, which has now claimed as many US troops' lives as those killed during the Iraq war.
Besides the costs of rebuilding, the United States is spending an estimated four billion dollars a month on the military occupation of Iraq.
An unnamed State Department official told The Post the White House planned to seek a "huge" supplemental spending bill from Congress. Other officials said an "emergency infusion" was also being considered to keep Iraq's coalition provisional authority from running out of cash.
To provide one source of funding for reconstruction, Bremer said, a "very intense dialogue" is underway with Iraq's governing council to open Iraq to foreign investment.
Bureau Report