Turkey, Kuwait and Others To Fund in Iraq’s Reconstruction [AbbTakk] 15 Feb, 2018

Turkey, Kuwait and Others To Fund in Iraq’s ReconstructionKuwait (February 14, 2018): Kuwait, Turkey and others have declared to support Iraq in its rebuilding process on Wednesday.Kuwait, which is hosting an international donors’ conference to raise funds for Iraq, pledged $2 billion in loans and investment whereas Turkey to share $5 billion in Iraq’s reconstruction phase after its devastating three-year war with Daesh.Kuwait’s Emir said it would lend $1 billion and commit a further $1 billion of investments to Iraq, joining a group of international backers that have this week pledged funds to bolster the country’s recovery.Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah told an international conference that, “Kuwait will earmark $1 billion in loans to Iraq and will commit to another $1 billion as investments.”The Turkish Foreign Minister Mevlut Cavusoglu pledged $5 billion in loans and investment.Minutes later, the European Union’s foreign policy chief Federica Mogherini said the bloc would invest 400 million euros, in addition to individual contributions from member states.Saudi Arabia said it would allocate $1 billion for investment projects in Iraq and $500 million to support Iraqi exports.Qatar said it would allocate $1 billion in loans and investments, while the United Arab Emirates pledged $500 million in investment.Those sums together with $495 million from the European Union and $100 million from Australia bring the total pledged so far to over $10 billion on the third and final day of the donors’ conference, still in progress.Baghdad says it needs nearly $90 billion to rebuild after a three-year war against Daesh which devastated homes, schools, hospitals and economic infrastructure, displacing millions of people.Those sums are dwarfed by the more than $88 billion that Iraqi officials have said it will cost to rebuild the country after three years of war, with housing a particular priority.Related News:Iraqi Forces Whipped Daesh Terrorist In Major OperationTurkey Vows to Expand Operation to Iraqi Border abbtakk Abbtakk english Abbtakk News Abbtakk Updates AbbTakk World DAESH English English News European Union International Conference international donors' conference IRaq war Kuwait Qatar Saudi Arabia Sports Sports News Turkey World World News

More News

Indian court jails former diplomat on charges of ‘spying for Pakistan’

21 May, 2018 Tribune

In this photograph taken on May 1, 2010, Indian Foreign Service (IFS) officer Madhuri Gupta (R) is escorted after making an appearance at the Tis Haza ... Detail

In an act of defiance, American Jews rally for Palestinian cause

21 May, 2018 DailyTimes

American-Jews rally for Palestine under George Washington’s statueBoston, US – In the summer of 2012, Ayelet Reiter was atop the Austrian Hospic ... Detail

Saudi air defense destroy ballistic missile fired from Yemen

21 May, 2018 Radio Pakistan

Saudi air defence forces intercepted and destroyed a ballistic missile fired by Yemen’s Houthi movement over southern city of Jazan.Saudi-led co ... Detail

U.N. sets up human rights probe into Gaza killings, to Israel's fury

21 May, 2018 SuchTV

he resolution to send a commission of inquiry to investigate was rejected by the United States and Australia, but backed by 29 members of the 47-state ... Detail

KSA Intercepts Ballistic Missiles Fired by Houthis

21 May, 2018 AbbTakk

KSA Intercepts Ballistic Missiles Fired by HouthisWeb Desk(May  20, 2018): Saudi air defense forces have intercepted two Houthi ballistic missiles tar ... Detail

Post Your Comments
Type your Comments / Review in the space below.
Name:
Email:
City:
Verify Code