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nsucurrent.com May 20, 2018


United Nations chief reiterates firm support for reconstruction in Iraq

14 February 2018, 06:53 | Colleen Roy

United Nations chief reiterates firm support for reconstruction in Iraq

Kuwait pledges $2bn to Iraq reconstruction

The event, dubbed the Kuwait International Conference for Reconstruction of Iraq, entered its second day in Kuwait City on Tuesday, with world leaders and senior politicians in attendance.

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 Islamic State militants who seized nearly a third of the country.

Kuwait has pledged $1 billion in loans to Iraq, and a further $1 billion in investments to the country, Kuwaiti Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah revealed on Wednesday. Wednesday is the last day of an appeal for funding to come forward at the Kuwait conference.

The United States also announced that it would be offering a $3 billion credit line but was not providing direct government assistance.

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.

"We will also provide project support of 50 million dollars to Iraq".




Qatar, which has been isolated from a quartet of Arab nations, announced it would contribute $1 billion with Germany pledging another 400 million euros, and the European Union 400 million euros.

"Iraq can not commence the mission of rebuilding itself without support, which is why we are all here today from all around the world, to stand by Iraq's side", Sheikh Sabah said.

Mr Abadi also said Baghdad was seeking to restore confidence in an worldwide community suffering from donor fatigue.

Kuwait's offer by the country's ruling emir, Sheikh Sabah Al Ahmad Al Sabah, shows the deep interest his nation has in making sure Iraq becomes a peaceful, stable country after the war against the Islamic State group and the chaos that followed the 2003 US-led invasion of Baghdad.

"There are more than five million internally displaced persons in Iraq".



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