Middle East countries pledge billions for Iraq's post-IS reconstructionFebruary 14, 2018 - 16:44 AMT PanARMENIAN.Net - Several countries in the Middle East have pledged billions of dollars in aid to help war-torn Iraq in its mission to rebuild the country following a four-year war against the Islamic State, Al Jazeera reports. During a three-day summit on Iraq's reconstruction that concluded on Wednesday in Kuwait city, Qatar, Saudi Arabia, Kuwait and Turkey have pledged to offer loans and direct investments to help rebuild the country. The emir of Kuwait, Sheikh Sabah Al Ahmad Al Sabah, had pledged to give $2bn in loans and investments. Saudi Arabia said it would provide $1.5bn, while Qatar pledged $1bn. Turkey also agreed to donate, vowing to provide $5bn in financial support. The donations come as various non-governmental organisations pledged $330m during the first day of the summit, which was attended by a total of 67 states and non-state actors. The conference - organised by Kuwait, Iraq, the European Union, the United Nations and the World Bank - is seeking funding from donors and investors to rebuild Iraq's destroyed homes, schools, and hospitals, and revive its demolished infrastructure and economy. Iraq's minister of planning Qusai Abdelfattah had said his country needed an estimated $88.2bn to achieve its goals - $22bn of which are needed "immediately", he noted. In the quest to raise funds, corruption is a major concern for the country, which last year ranked 166 out of 176 nations that were found to be corrupt, according to the findings of the annual Corruption Perceptions Index conducted by Transparency International. Iraqi Prime Minister Haider al-Abadi had previously vowed that his government would work towards combatting corruption and bureaucracy in the country. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |