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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Economist: Kuwait Reconstruction Conference and wrongly understood as donors

    Rocky
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    Economist: Kuwait Reconstruction Conference and wrongly understood as donors Empty Economist: Kuwait Reconstruction Conference and wrongly understood as donors

    Post by Rocky Thu Feb 15, 2018 4:34 pm

    Economist: Kuwait Reconstruction Conference and wrongly understood as donors
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    BAGHDAD (Reuters) - Economist Hammam al-Shamma said on Thursday that the conference was for the reconstruction of Iraq, but that it was wrongly understood as a donors' conference, pointing out the need for gradual recovery of capital according to the rules.
    "The Kuwait conference is not a donors' conference and its official name is the Iraq Reconstruction Conference," he said. "But it is a mistake to give financial grants, but the purpose of the conference is to rebuild Iraq. The conference has turned into an investment conference." "This investment will be made by companies that implement income-generating investments and return them a financial return, and the financial return is the reward of investment, either the recovery of capital is gradually according to the rules in force, it is not a loan but an investment and will not be a burden on the Iraqi economy, The money will be from the same investment returns. "
    The economic expert said that "the grants announced at the conference are simple grants intended to establish a fund, perhaps to finance some of the housing projects that were destroyed through the launch of some loans through the banking system," pointing out that "these funds will be linked to legal guarantees and guarantees by countries Which gives this money. "
    It is worth mentioning that the amount of funds allocated for the reconstruction of Iraq from the countries participating in the reconstruction conference amounted to 29.60 billion dollars, the total amounts pledged by countries and institutions and international organizations at the Kuwait Conference to support reconstruction and investment in Iraq.
    The amount allocated for reconstruction and assistance to Iraq, first concessional sovereign loans, of which total sovereign loans amounted to 15.5 billion dollars, Kuwait was 1 billion, Turkey 5 billion, Saudi Arabia 1 billion, Qatar 1 billion, UAE 250 million, Arab Social Fund 1.5 billion, Islamic Development 500 million, Italy 260 million, the World Bank 6 billion, as well as non-sovereign credit, financing and project guarantees.
    While non-sovereign loans, financing and guarantees of investment projects amounted to 11.61 billion, which are as follows: Kuwait 1 billion, Saudi Arabia 500 billion exports for reconstruction, the UAE 5.200 billion, Britain 210 million, the United States of America 3.5 billion and Japan 1.2 billion.
    There were also other grants to Iraq during the conference, and amounted to 1.8 billion dollars, which are: Kuwait 100 million, the European Union 493 million, the UAE 50 million, Turkey 50 million, Australia 18 million, Norway 54 million, as well as the United Kingdom 9.5 million Japan has 100 million, Korea 10 million, Italy 11.5 million, Canada 12 million, Germany 390 million, Finland 12 million, Luxembourg 12 million, Belgium 8 million, Sweden 140 million, Hungary 1.6 million, Slovakia 1 million, Is 29.6 billion dollars. "
    The Conference of the Reconstruction of Iraq in Kuwait concluded on Wednesday, where the Kuwaiti Foreign Minister announced a press conference with his Iraqi counterpart and the participation of the President of the World Bank and the Secretary-General of the United Nations, the value of the amounts allocated for reconstruction amounted to 30 billion dollars, out of 88 billion dollars announced Iraq needs to reconstruct the liberated areas and other areas in other provinces. "


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