I can see a role for government development equity in the region, in certain market spaces. This argument (which the ignorant cunts at the table lapped up) was based on politics, not business-economic goals. It was so bad that even my sensation I might be able to profit off of the drooling idiocy of the Leviathan was dented by some largely misplaced sense of values. It also spoke to an American Admin that continues to be driven by its own navel gazing, in a very profoundly myopic sense, over any real understanding of the region. Notably at the table, I was the sole person with regional experience. I suppose I should have been glad to have been invited, although I was an obvious choice.

As far as I can tell this badly conceived piece of idiocy will be best suited to pissing away millions of US taxpayer dollars...

Not that I am particularly excercised about that, but offensively stupid and ill conceived projects do offend my sense of propriety and elegance. Worse, these droolingly moronic projects sap (rather than add to) the legitimacy of the enterprise fund model, for the sole reason of political stupidity.

Of course, CPA-Iraq was precisely the same - navel gazing utterly unrealistic conception and goals, no doubt tied to incompetent, politically staffed projects.

For those who are interested, by the way, in a related subject, the OPIC fund for Iraq was funded. Looks to be a 70 million USD, if closing happens. Look for announcement in the Fall (i.e. it could fall through, but largely done deal).