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losangelesnewstoday.com May 23, 2018


Allies pledge billions to rebuild Iraq after years of conflict

14 February 2018, 06:53 | Katrina Lee

The sun sets behind destroyed buildings in the west side of Mosul

The sun sets behind destroyed buildings in the west side of Mosul

Iraq secured almost $25 billion in the first few hours of the final day of an worldwide donors' conference in Kuwait City, which was still ongoing.The biggest pledge at the gathering in Kuwait thus came from Turkey at the meeting.

Pledges were still expected to fall short of the level desired.

It made the announcement on Wednesday at a conference in Kuwait City.

He said that $1 billion would be in the form of loans, and the rest would be invested in projects.

Qatar's Deputy Prime Minister and Foreign Minister said on Wednesday his country was committed to supporting reconstruction in Iraq.

Saudi Arabia has pledged $1.5 billion and Qatar has pledged $1 billion to help rebuild Iraq after the war with ISIL.Britain said it would grant Iraq export credit of up to $1 billion per year for a decade.The United States said on February 13 that it was extending a $3 billion credit line but has not provided any direct government assistance.

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The three-day KICRI kicked off Monday in Kuwait City, which brought together several economic powers, as well as regional and global organizations, to make contributions to rebuilding Iraq after many years of war and conflict that ripped through various parts of the country.

Saudi Arabia's foreign ministry said his country was providing a $US1 billion loan through its Saudi Fund for Development and $US500 million in export credit.

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.

"It was a bloody and tough war, our homes were destroyed, schools devastated, streets turned into battlefields, we tolerated this because not only were we fighting for Iraq but for all humanity", he said.

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

The UN chief also highlighted the need for an "all-inclusive reconciliation process", calling on Iraqi authorities to abide by UN Resolution 1325, which addresses the impacts of armed conflicts on women.



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