Allies pledge billions for Iraq’s reconstruction

Allies pledge billions for Iraq’s reconstruction

- in Iraq News
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KUWAIT (Reuters) – Iraq received billions of dollars in credit lines, loans, and investment from Turkey, Gulf Arab allies, Europe, and other countries, their representatives announced at an international conference in Kuwait on Wednesday.

Turkey said it would give Iraq $5 billion in credit lines. Saudi Arabia’s foreign ministry said his country was providing a$1 billion loan through its Saudi Fund for Development and $500 million in export credit.

Qatar announced $1 billion in loans and investments while the United Arab Emirates pledged $500 million for rebuilding. Germany said it would provide $350 million in assistance.

Britain pledged up to $1 billion annually in export credit over 10 years and Japan said it would contribute $100 million this year to Iraq through U.N. agencies and international organisations.

UAE Minister of State for Foreign Affairs Anwar Gargash later tweeted that there were also $5.5 billion from the UAE in private investments in Iraq “in addition” to his country’s pledge but it was not clear if this was a new announcement.

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