“Powell succeeded in his donor drive, but only up to a point. Few if any of the assembled donors were prepared to put any of their cash into the so- called Iraqi Development Fund into which the residual money from the Oil For Food program, future oil revenues, and any other cash assets of the Iraqi regime are supposed to go. They will instead be channeling their money directly through the ‘UN window’ into funds under international rather than coalition control.
There are good reasons for the reluctance to trust Uncle Sam with their money. To begin with, it has taken six months for the U.S. to allow the establishment of the International Advisory and Monitoring Board. The organization is supposed to supervise the allocations made by the Development Fund, which increasingly resembles a Halliburton/Bechtel moneybox.” —AlterNet