(MENAFN- The Peninsula) The Peninsula Online
Kuwait: Qatar's Deputy Prime Minister and Foreign Minister said on Wednesday his country was committed to supporting reconstruction in Iraq.
Speaking on the sidelines of a major donor conference in Kuwait, H E Sheikh Mohamed bin Abdulrahman Al-Thani, said Qatar would provide a package of loans and investment worth $1 billion to focus on infrastructure projects.
Donors and investors have gathered in Kuwait this week to discuss efforts to rebuild Iraq's economy and infrastructure as it emerges from a conflict with Islamic State militants who seized almost a third of the country.
Neighbouring Kuwait said earlier on Wednesday it would lend Iraq $1 billion and commit a further $1 billion in investments.
Overall, Iraq is seeking $88.2 billion in aid from donors.
Among the hardest-hit areas in Iraq is the city of Mosul, which Iraqi forces, aided by a US-led coalition, recaptured from the Islamic State group in July 2017.
The victory came at a steep cost for Mosul, as coalition airstrikes and extremist suicide car bombs destroyed homes and government buildings.
Of the money needed, Iraqi officials estimate that $17 billion alone needs to go toward rebuilding homes, the biggest single line item offered Monday, on the first day of meetings. The United Nations estimates 40,000 homes need to be rebuilt in Mosul alone.
The war against the Islamic State group displaced more than 5 million people in Iraq, only half of whom have returned to their hometowns.
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