IDB's symbolic gesture to rebuilding Iraq

As Islamic financial institutions tend to avoid taking large risks, most have avoided investments in the reconstruction of Iraq. The Islamic Development Bank (IDB) is contributing US$500m to the Iraq Reconstruction Program, which is to be taken as more of a symbolic gesture than a firm commitment. Iraq is heavily indebted to the IDB as a result of failing to pay subscription dues and financing fees. Member states have pressed the IDB to contribute more finds to Iraqi reconstruction. Other developed countries have provided more substantial assistance than the IDB, even including individual contributions from Saudi Arabia, Kuwait, UAE, and Qatar. The IDB's contribution is directed only towards priority and emergency purposes, and its investment into other areas of reconstruction will continue to be very conservative. The IDB advocates debt forgiveness, increased private sector development, more aid from Muslim countries, more rapid funding to rebuilding infrastructure, and incorporating