Arabic | Kurdish




Kuwait joins Iraq reconstruction drive, pledging $2 billion

2018/02/14 | 17:10

(Iraq Now News)- Kuwait’s Emir said his country would lend $1 billion and commit a further $1 billion of investments to Iraq, joining a group of international backers that have this week pledged funds to bolster the country’s recovery, Reuters reported on Wednesday.Donors and investors have gathered in Kuwait to discuss efforts to rebuild Iraq’s economy and infrastructure as it emerges from a devastating conflict with ISIS militants who seized almost a third of the country.“Kuwait will earmark $1 billion in loans to Iraq and will commit to another $1 billion as investments,” Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah told an international conference on Wednesday.Minutes later, the European Union’s foreign policy chief Federica Mogherini said the bloc would invest 400 million euros, in addition to individual contributions from member states.The United States said on Tuesday it was extending a $3 billion credit line but has not provided any direct government assistance.

International NGOs have so far pledged $330 million in humanitarian assistance.Those sums are dwarfed by the more than $88 billion that Iraqi officials have said it will cost to rebuild the country after three years of war, with housing a particular priority.

Note: The post (Kuwait joins Iraq reconstruction drive, pledging $2 billion) appeared first on (Baghdad Post) and do not necessarily reflect the position of IraqNow.news.
You can read the original text from the source (Baghdad Post).










Trending Now


⋙ Exxon Mobil Faces Snag in Iraq as Oil and Water Mix

⋙ 4.6 magnitude quake hits Iran's Kerman

⋙ German delegation meets KRG PM, welcomes closer ties

⋙ Germany pledges continued support to Kurdistan, says will repatriate thousands of Iraqis

⋙ Iraqi nationality one of the worst, UAE tops Arab countries: Index

Videos - Photos

⋙ Video of youth kissing Iraqi election poster nearly causes tribal feud

⋙ Female KDP candidate defends video leaked on social media

⋙ Iraqi tribal feud contained after youth filmed kissing candidate’s photo


ISIS News

⋙ Video of youth kissing Iraqi election poster nearly causes tribal feud

⋙ Female KDP candidate defends video leaked on social media

⋙ 3 Peshmerga freed from 96-day ISIS captivity by PUK counterterrorism units

⋙ Iraq claims air force killed 36 ISIS fighters in Syria airstrikes

⋙ 2 ISIS terrorists arrested in Mosul

⋙ 3 ISIS guesthouses destroyed in northern Diyala

⋙ Iraqi intelligence arrest ISIS terrorist in west Baghdad