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Elham AbolFateh

Middle East

Donor countries allocate more than $15 bln for reconstruction of Iraq

Wednesday 14/February/2018 - 03:25 PM
Sada El Balad
Mohamed Emad

Arab countries allocated more than $15 bln for reconstruction of Iraq on the third and final day of the conference، which is being observed by Kuwait.

Kuwait، which hosts an international donors' conference to raise money for Iraq، has pledged $ 2 billion in loans.

Moreover، Kingdom of Saudi Arabia (KSA) decided to allocate one and a half billion dollars for reconstruction projects in Iraq، Saudi Foreign Minister Adel al-Jubair announced Wednesday.

Meanwhile، UAE Foreign Affairs’ Minister، Anwar Gargash said that his country has allocated 6 billion dollars for the reconstruction of Iraq.

“UAE allocates $500 million for reconstruction of Iraq in addition to investing in Iraqi privet sector، Rashid camp project and the port of Umm Qasr with $ 5.500 billion،” Gargash added.

In the same context، Qatar said it would allocate $ 1 billion in loans and investments.

These sums - along with $ 495 million from the European Union and $ 100 million from Australia - will help to some extent improve Iraq's living conditions and rebuild the devastated state.

Moreover, Turkish Foreign Minister، Mevlott Caveshoglu said Wednesday his country had pledged $ 5 billion in loans and investments to rebuild Iraq after its devastating three-year war against ISIS.

Baghdad said it needed nearly $ 90 billion to be rebuilt after the devastating war، which destroyed homes، schools، hospitals and economic infrastructure، displacing millions of people.

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