Saudi Arabia allocates $ 1.5 billion for reconstruction of Iraq

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Saudi Arabia has allocated $ 1.5 billion to Iraq, including one billion for reconstruction projects and half a billion for boosting Saudi exports to Iraq, Saudi Foreign Minister Adel al-Jubair said.
“The reconstruction of Iraq is an opportunity that must be invested in order to continue its contribution with its brothers in support of the joint Arab action,” Al-Jubeir told a conference of Arab foreign ministers preparatory to the 29th Arab summit.
In February, Kuwait witnessed the activities of the Kuwait International Conference for the Reconstruction of Iraq, in the presence of a number of major donor countries and a group of international and regional organizations in order to collect the contributions and assistance needed for the reconstruction of Iraq.
The UAE has announced its support for the reconstruction of 500 million dollars in addition to investments in the private sector in the Camp Rashid project and the port of Umm Qasr with five billion and 500 million dollars, while Qatar has allocated one billion dollars in the form of loans and investments.
In addition to the Arab countries, other countries announced their contribution to the reconstruction, including Turkey, which announced on the tongue of Foreign Minister Mouloud Gawish Oglu for the allocation of 5 billion dollars for the reconstruction of Iraq progress in the form of facilities and loans.
Germany has said it will provide $ 350 million in aid, while Britain has pledged up to $ 1 billion a year in export loans over 10 years. Japan has pledged $ 100 million this year through UN agencies and international organizations.

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