Kuwait says $30 billion pledged to rebuild Iraq

Iraqi Prime Minister Haider Al-Abadi (L), Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah (C) and Secretary General of the United Nations Antonio Guterres attend the second day of an international conference for reconstruction of Iraq, in Kuwait City. (AFP)

KUWAIT CITY: A total $30 billion in pledges were made Wednesday at a donor conference for Iraq’s reconstruction after the country’s devastating war with Daesh, falling well short of the $88.2 billion Baghdad is seeking.

The biggest pledge at the gathering in Kuwait came from Turkey, which announced $5 billion in credit to Iraq, while Kuwait’s ruling amir said his oil-rich nation will give $1 billion in loans and $1 billion in direct investments.
Saudi Arabia pledged $1.5 billion while the Kuwait-based Arab Fund says Iraq will receive $1.5 billion in infrastructure aid in coming years.
Qatar, which is embroiled in a diplomatic crisis with a quartet of Arab nations, pledged $1 billion. The United Arab Emirates pledged $500 million, as did the Islamic Development Bank. Germany pledged 500 million euros ($617 million) and the European Union 400 million euros ($494 million).

Categories: Arab World, Asia, Iraq, Kuwait

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