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Saudi Arabia Pledges $1.5 Billion to Help Rebuild Iraq

Saudi Arabia Pledges $1.5 Billion to Help Rebuild Iraq

Overall, Iraq is seeking $88.2 billion in aid from donors to help rebuild the country after a three-year war against ISIS which devastated homes, schools, hospitals and economic infrastructure, displacing millions of people. It was also unclear how much of the $30 billion represented loans.

"Iraq is required today to start a comprehensive reconstruction of the infrastructure and facilities that were destroyed".

He noted that this is not new to HH the Amir, nor to the State of Kuwait, which hosted several conferences of donors and provided support to Arab countries, expressing hope that the conference will succeed in achieving positive results. Iraq needed far more donations on Wednesday, the last day of an appeal for funding to come forward at the Kuwait conference.

Luaibi said the downstream investment would lift refining capacity to 1.5 million bpd by 2021, with 500,000 bpd of that earmarked for export.

Qatar's Deputy Prime Minister and Foreign Minister said on Wednesday his country was committed to supporting reconstruction in Iraq.

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European Union's foreign policy chief, Federica Mogherini, promised 200 million euros ($A314 million).

On the reconciliation process in Iraq, he said it should guarantee Iraqis of all sects equal opportunities.

United Nations Secretary General Antonio Guterres urged the worldwide community to address the scope of devastation that the war in Iraq has caused, saying the UN is firmly committed to the reconstruction process in Baghdad, which he reiterated would be a "daunting task.to ensure a unified nation".

United Nations chief Antonio Guterres on February 14 sought to motivate donors, saying it was incumbent on the global community to back Iraq after its sacrifices against ISIL.

He highlighted the need for an "all-inclusive reconciliation process", calling on Iraqi authorities to abide by UN Resolution 1325, which addresses the impacts of armed conflicts on women.

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