Allies promise Iraq $30 billion, falling short of Baghdad’s appeal
Iraq received pledges of $30 billion, mostly in credit facilities and investment, on Wednesday from allies but this fell short of the $88 billion Baghdad says it needs to recover from three years of war. Donors and investors gathered in Kuwait to mull ways to rebuild Iraq’s economy and infrastructure as it emerges from a […]Maher Chmaytelli and Ahmed Hagagy report for Reuters:
Iraq received pledges of $30 billion, mostly in credit facilities and investment, on Wednesday from allies but this fell short of the $88 billion Baghdad says it needs to recover from three years of war.
Donors and investors gathered in Kuwait to mull ways to rebuild Iraq’s economy and infrastructure as it emerges from a ruinous conflict with Islamic State militants who seized almost a third of the country before being beaten back.
“If we compare what we got today to what we need, it is no secret, it is of course much lower than what Iraq needs,” Iraqi Foreign Minister Ibrahim al-Jaafari told a news conference.
