| 2008: USAID loan program pushed forward economy in Iraq- report |
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January 16, 2008 A loan program offered by the United States Agency for International Development (USAID) has helped achieve significant progress and rebuild Iraq's infrastructure and economy, according to an economic report submitted to the United Nations. "Reconstruction always has been a focus of the coalition, but recent improvements in security have given coalition forces even more opportunities to repair facilities that have fallen into disrepair or have been destroyed by terrorists, build new facilities and other critical infrastructure, and assist Iraqis in gaining self-sufficiency," read the report that was published on the UN official website. "The renovation of the Ramana municipal government building in Anbar province after it was destroyed by a suicide bomber in July 2007. Coalition forces partnered with local Iraqi contractors to renovate the building so that the local government could return to work," the report quoted a spokesman for the Multi-National Force (MNF) in Iraq, Navy Rear Adm. Gregory J. Smith, citing examples of reconstruction throughout Iraq. "The repair of a water treatment facility northwest of Fallujah that now provides clean water for about 6,000 Iraqis. The resurgence of a market in Yusifiyah that was essentially deserted before Iraqi and coalition forces secured the area in October. The marketplace was cleaned up, shops were repaired and the market came back to life. Shoppers from outside Yusifiyah now come to the market, new shops have opened, and the market gets 18 to 20 hours of electricity a day," Smith indicated. "Smith also highlighted grant programs that have benefited local Iraqi entrepreneurs." "Also on the economic front, the United States Agency for International Development is providing microfinance loans to Iraqi entrepreneurs," the report said. According to USAID deputy director, Denise Herbol, the report explained that USAID is partnering with coalition forces in the Sunni Anbar province to "create locally owned microfinance operations that are consistent with Islamic principles." "The program in Anbar has generated nearly $530,000 in loans to entrepreneurs, with 139 loans totaling $334,000 distributed in Al Qaim, 18 loans totaling nearly $47,000 in Ramadi, and 72 loans totaling $148,000 in Fallujah, Herbol said." Source: Voices of Iraq |