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Announcement of funds allocated to Iraq from the Kuwait Conference[/size]
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2 hours ago
Announcement of funds allocated to Iraq from the Kuwait Conference[/size]
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2 hours ago
(Reuters) - Representatives of Turkey, Gulf Arab states, Europe and other countries have announced multi-billion-dollar lines of credit, loans and investments to Iraq at an international conference in Kuwait on Wednesday.
Turkey said it would give Iraq credit lines of $ 5 billion.
The Saudi foreign minister said his country is providing a $ 1 billion loan through the Saudi Development Fund and a $ 500 million line of credit.
Qatar has pledged $ 1 billion in loans and investments while the UAE has pledged $ 500 million for reconstruction and Germany has said it will provide $ 350 million in aid.
Britain has pledged up to $ 1 billion a year in export credit over 10 years and Japan said it would contribute $ 100 million this year to Iraq through UN agencies and international organizations.
UAE Minister of State for Foreign Affairs Anwar Gargash told Reuters later that there were also $ 5.5 billion from the UAE in the form of private investment in Iraq "in addition" to his country's pledge but it was unclear whether it was a new declaration
. Baghdad says it needs financial support An estimated $ 100 billion to rebuild what has been destroyed by the war on the organization of the Islamic state.
Although more than 70 countries and about 1,850 international companies have participated in the donor conference in Kuwait, the amount of money pledged does not appear to be ambitious.
The Iraqi government announced that its plan will be on three axes: the first is to contribute to the rehabilitation of infrastructure throughout Iraq, restore stability to the affected areas, and develop the service sector.
The participants in the Kuwait conference are expected to announce the value of their financial contributions on the last day of the conference on Wednesday.
Turkey said it would give Iraq credit lines of $ 5 billion.
The Saudi foreign minister said his country is providing a $ 1 billion loan through the Saudi Development Fund and a $ 500 million line of credit.
Qatar has pledged $ 1 billion in loans and investments while the UAE has pledged $ 500 million for reconstruction and Germany has said it will provide $ 350 million in aid.
Britain has pledged up to $ 1 billion a year in export credit over 10 years and Japan said it would contribute $ 100 million this year to Iraq through UN agencies and international organizations.
UAE Minister of State for Foreign Affairs Anwar Gargash told Reuters later that there were also $ 5.5 billion from the UAE in the form of private investment in Iraq "in addition" to his country's pledge but it was unclear whether it was a new declaration
. Baghdad says it needs financial support An estimated $ 100 billion to rebuild what has been destroyed by the war on the organization of the Islamic state.
Although more than 70 countries and about 1,850 international companies have participated in the donor conference in Kuwait, the amount of money pledged does not appear to be ambitious.
The Iraqi government announced that its plan will be on three axes: the first is to contribute to the rehabilitation of infrastructure throughout Iraq, restore stability to the affected areas, and develop the service sector.
The participants in the Kuwait conference are expected to announce the value of their financial contributions on the last day of the conference on Wednesday.
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