Kuwait’s ruling emir has said his oil-rich nation will give one billion US dollars in loans and one billion dollars in direct investments to help rebuild Iraq, a stunning donation as only a generation ago Saddam Hussein invaded the small, oil-rich nation. Kuwait’s ruling emir has said his oil-rich nation will give one billion US dollars in loans and one billion dollars in direct investments to help rebuild Iraq, a stunning donation as only a generation ago Saddam Hussein invaded the small, oil-rich nation. Kuwait’s pledge was followed by the promise of a 400 million euro (494 million dollars) donation from the European Union’s foreign policy chief Federica Mogherini. Overall, Iraq is seeking 88.2 billion dollars in aid from donors. Of the money needed, Iraqi officials estimate that 17 billion dollars alone needs to go toward rebuilding homes.

Source: Irish Independent February 14, 2018 10:18 UTC