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US financial pull-out from Iraq begins 16/01/2006

The United States is nearing the end of its $18.4 billion (£10.7 billion) fund for rebuilding Iraq, with little prospect of further multi-billion dollar injections.

In language mirroring the planned reduction of troops, US officials in Baghdad have begun talking of drawdown. One US official said: “US reconstruction is basically aiming for completion this year”.

Three years after the war Iraq still produces just 4,800 megawatts of power, little more than the 4,000 before the war, and far short of its needs. Baghdad is a special problem, receiving just three hours of electricity a day.


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