Turkey to provide $5 billion in credit for Iraqi reconstruction

The EU will work with the State of Kuwait to strengthen support for Iraq in this critical time, stressing that the Union is keen to work with Kuwait in order to promote stability and prosperity in Iraq, Mogherini added.

Germany said it would provide $US350 million in assistance.

The United Arab Emirates also pledged $500 million.

Some would be turnkey projects, in which contractors would hand over facilities to Iraq, while others would be build-operate-transfer deals in which private firms would receive concessions to operate facilities.

The Islamic Development Bank also pledged $500 million toward reconstruction in Iraq.

Sheikh Sabah, the Emir of Kuwait and host of the three day worldwide donor conference, announced on Wednesday $1-billion in loans for reconstruction projects in Iraq and another $1-billion of investments to help rebuild areas wrecked by ISIL. Wednesday is the last day of an appeal for funding to come forward at the Kuwait conference.

4400-year-old Egyptian tomb unearthed
The first scene shows a monkey taking fruit, while the second one shows another monkey dancing while musicians play instruments. In January, Egypt placed the ancient statue of one of its most famous pharaohs, Ramses II in the museum.

Saudi Arabia and Qatar also said they would allocate $1.5 billion and $1 billion, respectively.

"The whole world owes you a debt for your struggle against the deadly global threat posed by Daesh", Antonio Guterres told the donors' conference in comments directed at the Iraqi delegation.

Iraqi Prime Minister Haider al-Abadi (L), Emir of Kuwait Sheikh Sabah al-Ahmad al-Jaber al-Sabah (C) and UN Secretary General Antonio Guterres attend the second day of an worldwide conference for the reconstruction of Iraq, in Kuwait City, on February 14, 2018.

United Nations Secretary General Antonio Guterres urged the worldwide community to address the scope of devastation that the war in Iraq has caused, saying the UN is firmly committed to the reconstruction process in Baghdad, which he reiterated would be a "daunting task.to ensure a unified nation".

It took over three years for Iraqi armed forces to fully liberate the country's territory from the clutches of Daesh terrorists.

  • Megan Austin