Investment and development pledges for Iraq at $30 billion: Kuwaiti FM

Investment and development pledges for Iraq at $30 billion: Kuwaiti FM

The nations gathered at the Iraq reconstruction summit in Kuwait agreed on Wednesday to supply the war-torn country with $30 billion (€24 billion) in aid.

Emir of Kuwait Sheikh Sabah al-Ahmad al-Jaber al-Sabah (C) and Secretary general of the United Nations Antonio Guterres attend the second day of an global conference for reconstruction of Iraq, in Kuwait City, on February 14, 2018.

The US, the largest backer in the worldwide coalition against Isis, has no plans to pledge any cash in this conference, American officials told Reuters.

A ministerial meeting for a USA -led coalition against the Daesh terrorist group kicked off Tuesday in Kuwait.

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As a result of the implementation of projects Turkey will propose, many Iraqis will have jobs and be able to return home.

Baghdad says it needs almost $90 billion to rebuild after three years of war with Daesh devastated homes, schools, hospitals and other infrastructure. Only half have returned to their hometowns in Iraq.

U.S. Secretary of State Rex Tillerson sounded the alarm at a coalition gathering in Kuwait City.

The term DFI generally refers to development finance institutions such as multilateral development banks.

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Dr Anwar Gargash, UAE minister of state for foreign affairs, announced the United Arab Emirates would pledge $500 million.

The fighters have also been largely defeated in neighboring Syria.

He made the announcement at the International Coalition against the Islamic State (IS) meeting at the level of foreign ministers, which kicked off on Tuesday.

At the same time, Nato Secretary-General Jens Stoltenberg said the alliance was ready to answer a U.S. call for it to expand its small training mission in Iraq to support reconstruction.

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