The Washington Post says most of the aid pledges coming out of the Madrid Conference are in the form of loans rather than grants. Other pledges appear to be debt forgiveness for past loans which were likely uncollectable.

Meanwhile, most of the $1.5 billion pledge from Kuwait seems actually to be money the Kuwaitis say they've already given to the Iraqis.

I think we're going to have to wait at least a few days to figure out just what was put on the table and what was not.