KICRI ENDS WITH PLEDGES OF US$30 BILLION FOR IRAQ

The Kuwait International Conference for the Reconstruction of Iraq (KICRI) which ends Thursday, has raised US$30 billion in pledges to rebuild Iraq after the destruction in the war against Daesh militant group.

The pledges were made by 76 participating countries, 51 development funds and financial institutions, 107 non-governmental organisations (NGOs) and 1,850 international companies.

The KICRI host, the Emir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah pledged US$1 billion in investment and another US$1 billion in the form of loans.

Meanwhile, the European Union (EU) pledged US$400 million as humanitarian aid to ensure peace and stability in Iraq.

Saudi Arabia pledged US$1 billion via the Saudi Fund for Development and an additional US$500 million to boost the kingdom’s exports to Iraq.

Turkey pledged to give US$5 billion in loans and credit facilities, Qatar pledged US$1 billion in loans and investment, while United Arab Emirates (UAE) pledged US$500 million to Iraq.

Malaysia too gave its commitment to Iraq by making an initial pledge of US$100,000.

The KICRI, co-chaired by Kuwait, Iraq, the EU, the United Nations (UN) and the World Bank, also held a Global Coalition Against Daesh meeting to formulate strategies among its 74 partners to fight terrorism.

Among key items discussed at the KICRI were the reconstruction of Iraq and the continued investment and stability, while promoting peace and unity among the Iraqis.

Source: NAM News Network