€1b, $22b total donations for Iraq in KICRI

CAIRO – 14 February 2018: During the three productive days of the Kuwaiti International Conference for Reconstruction of Iraq (KICRI), Iraq managed to collect funds reaching €1 billion ($1.24 billion) and $22 billion as donations, loans and investments inside the country.

The conference kicked off on Monday, February 21 under the auspices of Kuwait’s Emir Sheikh Sabah al-Ahmad al-Sabah with the participation of 70 humanitarian organizations, the representatives of 1,850 global companies and the officials of 70 countries worldwide.


Kuwaiti International Conference for Reconstruction of Iraq – Press photo

The three-day conference aimed to fix the damage caused by war and disputes, according to official statements. All of the conference attendees were trying to reach agreements to reconstruct destroyed houses, infrastructure, roads, hospitals, schools and public facilities.

The UAE pledged about $1 billion as loans to Iraq, along with another $1 billion as investments. The European Union also announced that it will contribute about €400 million from its own budget for Iraq’s reconstruction.

EU Foreign Policy Chief Federica Mogherini said in her speech that the donation will be invested and offered as aid for the Iraqi people. She demanded that the Iraqi government not spend all of the donation money only on building, but also on education and health as well.

Saudi Arabia announced during the conference that it will offer Iraq about $1 billion as investments within the country, along with another $500 million to back Iraqi exports. Qatar also pledged about $1 billion as investments and loans.

Italy pledged loans estimated at €260 million, along with $6.5 million in donations and $5 million in aid. Other international organizations are also contributing, including the World Bank and the Arab Fund for Economic and Social Development (AFESD), which participated in Iraq’s reconstruction.

The AFESD chief pledged to finance Iraq with about $1.5 billion, while Jim Yong Kim, head of the World Bank, announced participating in Iraq’s construction with about $4.7 billion.

Egypt participated in the conference with a delegation headed by Presidential Assistant for National and Strategic Projects Ibrahim Mahlab. He said in statements to MENA on Monday that Egypt's participation in KICRI came from the state’s similar experiences. “We will stand with Iraq and help it with all the knowledge and experience we have gained during the past four years,” Mahlab said.



Kuwaiti International Conference for Reconstruction of Iraq – Press photo

He added that Egypt's participation in KICRI reflects its pioneering role on Arab, regional and international levels. Mahlab affirmed that President Abdel Fatah al-Sisi made directives on the necessity of standing by Iraq in order for it to benefit from Egypt's pioneering expertise in the field of reconstruction and to help Baghdad rebuild areas damaged by terrorists.

He assured that Egypt is keen on extending its unique expertise in the quick completion of national projects in Iraq, especially since the war-torn country needs a lot of logistic services as soon as possible, including projects in the fields of energy, hospitals and schools, to pave the way for the return of thousands of displaced people.

After a long struggle

, and with the aid of the American-led military intervention in Iraq known as the International Coalition, the Iraqi government announced defeating IS on December 2017.

Speaking in a televised speech, Iraqi Prime Minister Haider al-Abadi thanked all of those who participated in the Iraqi war, including Iran’s Shia Marja' (senior cleric) and Iraq’s Ali al-Sistani for issuing his known fatwa (Islamic edict) on the religious obligation of fighting against IS.



Kuwaiti International Conference for Reconstruction of Iraq – Press photo