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UK increases Iraq aid by £296m


UK increases Iraq aid by £296m

The UK will commit a further £296m to the reconstruction of Iraq International Development Secretary Hilary Benn has announced.

In a written statement to Parliament, Mr Benn said the funding is in addition to the £248m already committed by the Government for humanitarian and reconstruction assistance.

The UK will commit the investment - totalling £544m - at the Donors' Conference on Iraq in Madrid on 24 October, he said. The funding will cover the three years from April 2003.

A substantial proportion of this spending will be channelled through funding arrangements being established by the World Bank and the United Nations. The UK share of proposed European Community spending will be £38m.

In addition to the host country - Spain - the United Arab Emirates, United States, European Union and Japan are leading the organisation of the Conference.

The main objectives are to:

endorse the priorities for reconstruction in Iraq over the coming years;

provide a forum for donors to make pledges of assistance; and to

agree a multilateral framework for assistance.

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