Turkey, Saudi among allies pledging billions for Iraq’s reconstruction; UN urges world support
UN chief Antonio Guterres has urged the international community to support Iraq’s reconstruction after the devastating war with the Islamic State group. He also announced a two-year Recovery and Resilience Programme.world Updated: Feb 14, 2018 18:48 IST
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 UN agencies and international organisations.
UAE minister of state for foreign affairs Anwar Gargash later tweeted that there were also giving $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.
UN chief Antonio Guterres has urged the international community to support Iraq’s reconstruction after the devastating war with the Islamic State group. “The whole world owes you a debt for your struggle against the deadly global threat posed by Daesh (IS),” Guterres said in Kuwait City.
“It is time to demonstrate our lasting gratitude and solidarity with the Iraqi people,” he said.
Guterres highlighted two key UN-backed initiatives, for which he was seeking support.
He also announced a new, two-year Recovery and Resilience Programme.
First Published: Feb 14, 2018 18:37 IST