Legal Challenges Facing Foreign Investments In The Reconstruction Of Iraq©
I. INTRODUCTION
The goal of this presentation is to identify and discuss some of the important issues and considerations with respect to funding the massive rebuild of Iraq.
At the outset, The Council on Foreign Relations originally estimated the amount of funding required to rebuild Iraq to be in the range of $100 billion to $500 billion over the next five (5) years. However, recent estimates for the next four (4) years, as determined at the October 23-24, 2003 Madrid (Spain) International Donors Conference ("IDC") were lowered substantially to approximately $56 billion (as estimated by the World Bank and United Nations). From the Madrid Conference, donors pledged approximately $33 billion (primarily by loans) of the approximately $56 billion required (with the U.S. pledging approximately $20 billion of that pledge). Notwithstanding, this estimated funding is in itself an enormous obstacle.
