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UAE and Gulf states pledge billions for Iraq

UAE and Gulf states pledge billions for Iraq”

"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.

The war against the Islamic State group displaced more than 5 million people in Iraq, only half of whom have returned to their hometowns. UN is firmly committed to the reconstruction process in Baghdad, said UN Secretary-General Antonio Guterres on Wednesday in Kuwait.

The United Arab Emirates pledged $500 million while Germany pledged 350 million euros.The European Union's foreign policy chief Federica Mogherini said the bloc would invest 400 million euros, in addition to individual contributions from member states.International NGOs have so far pledged $330 million in humanitarian assistance.

Speaking at a conference on reconstruction of the war-torn country, he also said Iraq planned to boost its crude oil production capacity to 7 million barrels per day by 2022, from 5 million bpd at present.

Addressing the forum, Kuwaiti Emir Sheikh Sabah al-Ahmad Al Sabah pledged $2 billion towards the reconstruction of Iraq.

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

"Declared Turkey will provide a credit facility of 5 billion Dollars to Iraq at the International Conference for Reconstruction of Iraq".

During his participation in the Kuwait International Conference for Reconstruction of Iraq, the Minister of Foreign Affairs expressed his appreciation to the Amir of Kuwait, His Highness Shaikh Sabah Al-Ahmed Al-Jaber Al-Sabah for extending an invitation to him to participate, and for his initiative to host the conference.

Sheikh Sabah Al Ahmad Al Sabah made the announcement on Wednesday at a summit seeking donations to help rebuild Iraq after the war against the Islamic State group.

Iraq invaded oil-rich Kuwait in 1990 under former dictator Saddam Hussein, before it was forced to withdraw by a USA -led military coalition.



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