Kuwait pledges $2bn for Iraq's reconstruction

Kuwait pledges $2bn for Iraq's reconstruction

Iranian Foreign Minister Mohammad Javad Zarif is going to take part in a conference on the reconstruction of Iraq.

Emir of Kuwait Sheikh Sabah al-Ahmad al-Jaber al-Sabah (C) and Secretary general of the United Nations Antonio Guterres attend the second day of an global conference for reconstruction of Iraq, in Kuwait City, on February 14, 2018.

The conference is also to assist in rebuilding Iraq after many years of war and conflict that has ripped through various parts of the country.

Newsmen report that the director-general of Iraq's planning ministry, Qusay Adulfattah, on Monday said rebuilding Iraq after three years of war with Islamic State will cost more than 88 billion dollars.

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About 70 member countries and worldwide organizations will participate in the ministerial meeting, chaired by the foreign minister of Kuwait Al Khaled-as-Sabbah and the U.S. Secretary of State Rex Tillerson.

Baghdad says it needs almost $90 billion to rebuild after a grisly war with Daesh terrorists which devastated homes, schools, hospitals and economic infrastructure, displacing millions of people.

But the fighting has been devastating - leaving thousands dead, millions displaced and nearly 150,000 houses destroyed.

Germany said it would provide $350 million in assistance.

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Turkish Foreign Minister Mevlut Cavusoglu also came forward to pledge $5 billion in loans and investment for the reconstruction effort.

Qatar, which has been isolated from a quartet of Arab nations, announced it would contribute $1 billion with Germany pledging another 400 million euros, and the European Union 400 million euros.

Iraqi Prime Minister Haider al-Abadi had previously vowed that his government would work towards combatting corruption and bureaucracy in the country.

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