'Marshall Plan' for Iraq Fades
Once the $18.6 billion for reconstruction is spent, the nation might have to rely on private investment. 'No pain, no gain,' a U.S. official says.
http://www.latimes.com/news/nationworld/world/la-fg-aid15jan15,0,1402940.story?coll=la-home-headlinesBAGHDAD — After more than 2 1/2 years of sputtering reconstruction work, the United States' "Marshall Plan" to rebuild this war-torn country is drawing to a close this year with much of its promise unmet and no plans to extend its funding.
The $18.6 billion approved by Congress in 2003 will be spent by the end of this year, officials here say. Foreign governments have given only a fraction of the billions they pledged two years ago.
With the country still a shambles, U.S. officials are promoting a tough-love vision of reconstruction that puts the burden on the Iraqi people.
"The world is a competitive place," Tom Delare, economics counselor at the U.S. Embassy, said this month during a news briefing. "You have to convince the investor that it is worth his while to put his money in your community."