World Bank Robs Peter To Pay Iraq

This from the BBC.

World Bank pledges $5bn in Iraq aid

The World Bank has said it will contribute between $3bn and $5bn over the next five years towards the rebuilding of Iraq. The pledge will come as a boost to the United States, as it attempts to rally support ahead of an international donors conference in Madrid on Thursday and Friday.

It adds to the $231m pledged by the European Union, $1.5bn by Japan, $300m from Spain and about $835m from Britain.

But US requests for aid from France, Germany and Russia - opponents of the recent Iraq conflict - have so far been met with an icy response.

By my reckoning that is about $7.5 Bn with most of the WB money strung out over 5 years, along with the Japanese money. In other words a pittance up front to add to the US costs.

But also to the point, the WB money comes out of the pockets of its contributors, mostly the US, Japan and Old Europe. What's the bet that most of these countries will say "we already gave at the office"?