Print Edition - 2018-02-15  |  Money Digest

Turkey pledges $5b for Iraq reconstruction


Feb 15, 2018-

Turkish Foreign Minister Mevlut Cavusoglu on Wednesday pledged $5 billion in loans and investment for Iraq’s reconstruction after its devastating three-year war with the Islamic State group. Kuwait, which is hosting an international donors’ conference to raise funds for Iraq, pledged $2 billion (1.6 billion euros) in loans and investment. Saudi Arabia said it would allocate $1 billion for investment projects in Iraq and $500 million to support Iraqi exports. Qatar said it would allocate $1 billion in loans and investments, while the United Arab Emirates pledged $500 million in investment. Those sums—together with $495 million from the European Union and $100 million from Australia—bring the total pledged so far to over $10 billion on the third and final day of the donors’ conference, still in progress. 

Published: 15-02-2018 08:44

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