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  • Iraqi Prime Minister Haider al-Abadi attends the Kuwait International Conference for Reconstruction of Iraq, in Bayan, Kuwait.

    Iraqi Prime Minister Haider al-Abadi attends the Kuwait International Conference for Reconstruction of Iraq, in Bayan, Kuwait. | Photo: Reuters

Published 14 February 2018

About US$10 billion was pledged at an international donors summit in Kuwait but Iraq says it would need US$90 to rebuild.

Turkish Foreign Minister Mevlut Cavusoglu on Wednesday pledged US$5 billion in loans and investment for Iraq's reconstruction after its devastating three-year war with the Islamic State group.

Kuwait, which is hosting an international donors' conference to raise funds for Iraq, pledged US$2 billion in loans and investment.

Saudi Arabia said it would allocate US$1 billion for investment projects in Iraq and US$500 million to support Iraqi exports.

Qatar said it would allocate US$1 billion in loans and investments, while the United Arab Emirates pledged US$500 million in investment.

Those sums -- together with US$495 million from the European Union and US$100 million from Australia -- bring the total pledged so far to over US$10 billion on the third and final day of the donors' conference, still in progress.

Baghdad says it needs nearly US$90 billion to rebuild after a three-year war against IS which devastated homes, schools, hospitals and economic infrastructure, displacing millions of people.

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