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Kuwait joins Iraq reconstruction drive, pledging $2 billion


() — Donors and investors have gathered in to discuss efforts to rebuild ’s and infrastructure as it emerges from a devastating conflict with militants seized almost a third of the country.

“Kuwait will earmark $1 billion in loans to Iraq and will commit to another $1 billion as investments,” Emir al-Ahmad al-Jaber al-Sabah told an on Wednesday.

Minutes later, the ’s foreign policy chief Federica Mogherini said the bloc would invest 400 million euros, in addition to individual contributions from member states.

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.

(File photo: reuters)



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