Kuwait pledges $2 billion in loans, investments to Iraq

Kuwait pledges $2bn to Iraq reconstruction

Turkish Foreign Minister Mevlut Cavusoglu also pledged $5 billion in the form of loans and investment.

The Emir of Kuwait Sheikh Sabah al-Ahmad al-Jaber al-Sabah (L front) and United Nations Secretary-General Antonio Guterres (R front) attend the ministerial meeting of the Kuwait International Conference for the Reconstruction of Iraq (KICRI) in Kuwait City, Kuwait, Feb. 14, 2018.

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.

Iraq has received investment and donation pledges from allies worth $30 billion, Kuwaiti Foreign Minister Sheikh Sabah al Khalid Al Sabah told a news conference on Wednesday. The conflict has devastated a number of major cities in the country, with Mosul particularly in need of reconstruction.

Iraq's Prime Minister Haidar Al Abadi said he was looking forward to "real and strategic" partnerships, as well as collaborations with countries in the region. "It can not be undertaken alone, which calls us to the global community to take part of this mission", he said on the last day of the conference in Kuwait City.

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Daesh came to prominence in Iraq in 2014 when the group captured the northern cities of Fallujah, Mosul and Tikrit, representing nearly a third of the country.

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

That the conference is being hosted in Kuwait is of particular significance given the history of animosity between the two states.

The announcement is in many ways stunning - many at the gathering in Kuwait remember how Iraq under dictator Saddam Hussein invaded Kuwait only a generation ago.

On Tuesday, a ministerial-level meeting between members of a USA -led anti-Daesh coalition kicked off in Kuwait City.

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