Kuwait pledges $2bn to support reconstruction in Iraq

Kuwait City, Feb 14 (IANS) Kuwait will allocate $1 billion in loan and another $1billion in investment in Iraq to help its reconstruction process, Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah announced on Wednesday.

The magnitude of destruction inflicted on Iraq by terrorists cannot be overlooked. This cannot be endured by Iraq alone and the international community must shoulder its responsibility, Xinhua news agency quoted the Emir assaying.

He made the announcement at the Kuwait International Conference for the Reconstruction of Iraq (KICRI) here. He congratulated the Iraqi people for the defeat of the Islamic State (IS) in the country.

The three-day meeting kicked off on Monday in Kuwait City and brought together several economic powers as well as regional and international organisations seeking contributions to rebuilding Iraq after many years of war and conflict.