Iraq PM adviser: funds from Kuwait conference give minimum leverage

A picture shows a house destroyed in Mosul. AFP

Baghdad ( Funds collected from Iraq reconstruction donors are insufficient but still give a positive sign and a financial leverage to the war-ravaged country, said an adviser to the Iraqi Prime Minister Haider al-Abadi.

Mazhar Mohamed Saleh, a financial adviser to Abadi, said in a statement that “loans Iraq obtained on the closing day of the Kuwait conference will represent a financial leverage”.

He added that “the loans represent positive stances of the international community towards Iraq’s support.

“Loans obtained by Iraq do not fulfill its aspirations in the rehabilitation of liberated areas, but are still a positive step at minimum,” Saleh added.

Saleh described Emirati contributions during the conference as “positive”, noting that funds provided by Emirates and other countries will be directed to “infrastructure development”

Kuwait hosted an international donors conference for the reconstruction of Iraq after the damage sustained during the war against Islamic State militants since 2014. At the end of the conference on Wednesday, Iraq had acquired nearly USD30 billion, much less than a previously projected USD100 billion.

The war against IS had displaced nearly five million people both inside and outside the country, and dealt a severe damage to the country’s infrastructure.

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