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World Bank Iraqi Reconstruction Will Be

Juan Cole 10/10/2003

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World Bank: Iraqi Reconstruction will be Delayed by Lack of Security

The World Bank and the UN say that the rebuilding of Iraq may take longer than the 4 years they originally estimated, because of the deterioration in the security situation. They had put the cost of rebuilding at $36 bn., on top of the $20 bn. the Bush administration wishes to spend for the purpose. The planning for the rebuilding will also be time-consuming, the officials suggested.

The Iraqi economy contracted by 22% in 2003, with per capita income averaging $525 per annum. The World Bank believes the Iraqi economy could grow 30% next year, attaining a per capita income of about $670.

http://www.forbes.com/business/

newswire/2003/10/09/rtr1105270.html

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About the Author

Juan Cole is the founder and chief editor of Informed Comment. He is Richard P. Mitchell Professor of History at the University of Michigan He is author of, among many other books, Muhammad: Prophet of Peace amid the Clash of Empires and The Rubaiyat of Omar Khayyam. Follow him on Twitter at @jricole or the Informed Comment Facebook Page

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