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UAE and Gulf states pledge billions for Iraq

UAE and Gulf states pledge billions for Iraq”

Saudi Foreign Minister Adel al-Jubeir made the pledge on Wednesday at a donor's summit at Bayan Palace in Kuwait City.

Pledges were still expected to fall short of the level desired.

Tillerson made the assertion at a press conference held in Kuwait, where he is attending a high-level meeting between members of a US -led coalition against the Daesh terrorist group.

He said that $1 billion would be in the form of loans, and the rest would be invested in projects.

Baghdad has said it needs almost $90 billion to rebuild after a grisly war with the Islamic State of Iraq and the Levant (ISIL) militants which devastated homes, schools, hospitals and economic infrastructure, displacing millions of people.Governments from around the world on February 14 pledged billions of dollars in loans and investment for the reconstruction of Iraq, a nation reeling from a three-year war against ISIL. Wednesday is the last day of an appeal for funding to come forward at the Kuwait conference.

UAE Minister of State for Foreign Affairs Anwar Gargash later tweeted there was also $US5.5 billion from the UAE in private investments in Iraq "in addition" to his country's pledge but it was not clear if this was a new announcement.

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

European Union's foreign policy chief, Federica Mogherini, promised 200 million euros ($A314 million). The New York Times has suggested failure to obtain the vast sums needed for reconstruction represents "a humiliating blow for the Iraqi government" and could threaten the future of Iraq's Prime Minister, Haider Al-Abadi.

Mr Al Abadi said that the Iraqi "vision" would rely on the principle of cooperation for Iraq to become a "gateway for joint interests".

"There are more than five million internally displaced persons in Iraq".

He highlighted the need for an "all-inclusive reconciliation process", calling on Iraqi authorities to abide by UN Resolution 1325, which addresses the impacts of armed conflicts on women.



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