Despite the contributions and investments from Iraq’s allies, the amount donated still fell short of Baghdad’s goal of $88.2 billion needed to recover from the IS war.
Iraq’s southern Arab neighbors pledged billions of dollars with Saudi Arabia providing $1 billion through its Saudi Fund for Development and $500 million in export credit, Foreign Minister Adel Jubeir revealed at the conference.
Kuwait’s Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah said his country would “earmark $1 billion in loans to Iraq and will commit to another $1 billion as investments.”
Qatar pledged $1 billion in loans and investments and the United Arab Emirates promised $500 million, adding there was $5.5 billion in private sector investments in Iraq.
Turkey’s Foreign Minister Mevlut Cavusoglu said his government would give Iraq $5 billion in credit lines, Reuters reported.
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