WAR-BATTERED Iraq today sought to attract global investors to rebuild the country after defeating the Islamic State group, offering hundreds of projects and touting extensive legal guarantees.
But will representatives from 70 countries and over 2,300 businesses alongside the World Bank and European Union at the February 12-14 Kuwait International Conference for the Reconstruction of Iraq, listen? Iraq is viewed by investors as the 10th most corrupt country in the world, according to Transparency International.
His ministry says a quarter of the amount is urgently required, in order to quickly build housing for 2.5 million people displaced by fierce fighting.
Iraq published a list of 157 projects for which it is seeking private investments at the conference, which some 1,900 delegates representing foreign governments, private firms and nongovernment organizations have registered to attend.
The minister noted that this comes in line with the principled stance of Kuwait to stand by neighboring Iraq, congratulating at the same time Iraq on its recent victories in liberating its territory from the grip of the IS, which is a danger not only to the region but also to the whole world. It was at war with Iran for most of the 1980s, and its invasion of Kuwait in 1990 led to war with a USA -led coalition and more than a decade of global sanctions. The years of insurgency, sectarian violence and ethnic tensions that followed his overthrow in 2003 helped fuel the emergence of IS, a little more than a decade later. We were there to participate in the coalition.
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The United States and the United Nations have called the military campaign against the Rohingya "ethnic cleansing". The US State Department also said the report showed the need for Myanmar to cooperate in an independent probe.
The seven provinces attacked by the militants suffered $46 billion in direct damage, including the destruction of 147,000 housing units, and the security forces took $14 billion in losses.
While the US will not make any new direct aid pledges at the conference, Secretary of State Rex Tillerson is expected to announce an over $3 billion financial package, an American official said.
Non-governmental organizations pledged $330 million U.S. in humanitarian aid to Iraq at a parallel NGO conference on the sidelines of the main reconstruction one, Kuwait's state news agency KUNA reported.
Non-governmental organisations pledged $330 million in humanitarian aid at a parallel NGO conference, Kuwait's state news agency KUNA reported.
However, the secretary-general of Iraq's Council of Ministers Mahdi al-Alaq said nations could it help by acting as guarantors with worldwide lenders.