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


⋙ Mesut Ozil: Arsenal midfielder quits Germany over ‘racism and disrespect‘

⋙ How Will Jordan Primer Al Razzaz Handle Latest Tobacco Corruption Scandal?

⋙ GCC Stock Markets Expected to Soar in H2‘18

⋙ Amman International Shopping Festival to Begin on Thursday

⋙ Hundreds of Israeli right-wingers storm Jerusalem‘s al-Aqsa Mosque

Videos - Photos

⋙ Two injured as gunmen storm governorate building in Erbil (video)

⋙ Clashes erupt as Jewish worshipers gather near Al-Aqsa (video)

⋙ Mesut Özil defends Erdogan photo, announces retirement from international football


ISIS News

⋙ Two injured as gunmen storm governorate building in Erbil (video)

⋙ Clashes erupt as Jewish worshipers gather near Al-Aqsa (video)

⋙ Syrian Regime Battle it Out With ISIS in Opposition-Vacated Deraa, Quneitra

⋙ Where Isis stored weapons, Mosul now has a funfair – in pictures

⋙ Russian jets hammer ISIS bastion as Syrian troops advance in southwest Syria

⋙ In Post-ISIS Mosul Will Communities Ever be Reconciled?

⋙ Iraqi police say arrested 2 ISIS terrorists western Mosul