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INFOGRAPHIC - Turkey pledges biggest share for Iraq’s reconstruction

INFOGRAPHIC - Turkey pledges biggest share for Iraq’s reconstruction
Turkish Foreign Minister Cavusoglu says Turkey will lend $5 billion for the reconstruction of Iraq

By Meltem Bulur

KUWAIT (AA) - Turkey has claimed the biggest share for reconstruction of Iraq by pledging $5 billion in the international donor conference.

In the conference, which saw the participation of 2,300 companies and international institutions from more than 70 countries, Iraq raised 157 investment projects, particularly targeting infrastructure, water, energy, construction and technology.

Accompanied by Turkish Cooperation and Coordination Agency (TIKA) and Economy Ministry officials in the conference, Turkish Foreign Minister Mevlut Cavusoglu said Turkey would lend $5 billion for Iraq's reconstruction.

"Since 2004 until today, we provided Iraq around $500 million humanitarian and development aid," Cavusoglu noted.

The country’s emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah told participants in the conference that Kuwait would earmark $1 billion in loans and another $1 billion in direct investments to neighboring Iraq.

Qatar announced that it would contribute by providing $1 billion worth of loans and investments to help rebuild infrastructure that was damaged or destroyed during Iraq’s three-year war with the Daesh terrorist group.

Saudi Foreign Minister Adel al-Jubeir, for his part, said his country would allocate $1.5 billion for reconstruction initiatives in Iraq.

Jubeir also said the recent establishment of a Saudi-Iraqi Coordination Council was part of ongoing efforts by both countries to enhance bilateral relations.

- Reconstruction efforts

Anwar Gargash, UAE minister of state for foreign affairs, who also spoke at the conference, said his country would contribute $500 million to planned reconstruction efforts.

European Union’s foreign policy chief Federica Mogherini said the bloc would make an investment of €400 million ($499M) in Iraq.

He added the amount would be paid by the EU’s budget, separately from individual contributions of member states.

German officials in the conference assured €500 million ($623M) for Iraq’s reconstruction.

Arabic Development Fund signed $1.5 billion finance deal with Iraq, while Islamic Development Bank assured $500 million for the country’s reconstruction.

Iraq aims to secure investments worth $100 billion to rebuild its infrastructure after a three-year war against Daesh terrorist group.

In his closing speech, Kuwaiti Foreign Minister Sabah al-Khalid al-Hamad al-Sabah announced that aid for the projects struck $30 billion.

source: News Feed
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