Canada contributing $12M to rebuilding critical infrastructure in Iraq

Kuwait pledges $2 billion for rebuilding Iraq

The plan spans the next 10 years and Iraq announced on the opening day of the conference that the country needs investments worth $88.2bn, of which $22bn were required immediately.

Emir of Kuwait Sheikh Sabah al-Ahmad al-Jaber al-Sabah (C) and Secretary general of the United Nations Antonio Guterres attend the second day of an worldwide conference for reconstruction of Iraq, in Kuwait City, on February 14, 2018.

Sharing in a similar vision, in unison with other Arab countries, the officials discussed gathering sufficient financial aid that would lead to the successful development of the Iraq based sectors and its people and attract foreign investment as Iraq opens for business.

The funds will help Baghdad rebuild the country after the war with Islamic State (IS, formerly ISIS), Reuters said.

With the help of a US-led alliance, Iraq declared victory over "Islamic State" insurgency in December 2017, after its forces successfully reclaimed all the territory held by the extremist group. Officials have earmarked the urgent need for $23 billion in short term loans, with the remaining $65 billion to be gathered over the mid term. Only half of them have returned to their home towns. "We call for the unconditional and honest participation of the worldwide community in the reconstruction of Iraq".

U.S. Secretary of State Rex Tillerson sounded the alarm at a coalition gathering in Kuwait City.

Tillerson also said Washington had chose to provide an additional $200mn of aid to stabilise liberated areas in Syria.

US Secretary of Defence Jim Mattis sent a letter to North Atlantic Treaty Organisation last month calling for a formal North Atlantic Treaty Organisation train-and-advise mission, Reuters reported, part of President Donald Trump's campaign for the alliance to do more against militants.

About 70 member countries and worldwide organizations will participate in the ministerial meeting, chaired by the foreign minister of Kuwait Al Khaled-as-Sabbah and the U.S. Secretary of State Rex Tillerson.

He said tens of billions more were lost indirectly through damage to the wider economy and years of lost growth.

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