Update: 14 February, 2018 18:25 PM
IDB ready to finance Iraqi infrastructure with $500 million

IDB ready to finance Iraqi infrastructure with $500 million

A family house lies in ruins in the Iraqi city of Ramadi on March 20, weeks after the city was retaken from Islamic State. (AP Photo/Maya Alleruzzo)

The Islamic Development Bank (IDB), the largest development organization in the Muslim world, is ready to finance Iraq infrastructure with $500 million, its president Ahmed Mohamed Ali al-Madani, said in Kuwait on Wednesday.

Donors and investors have gathered in Kuwait to discuss efforts to rebuild Iraq’s economy and infrastructure as it emerges from a devastating conflict with Islamic State militants who seized almost a third of the country, according to Reuters report.

The latest on the conference under way in Kuwait to help Iraq rebuild after the devastating war against the Islamic State group.

The Kuwait-based Arab Fund says Iraq will receive $1.5 billion in infrastructure aid in coming years after the war against the Islamic State group, Miami Herald reported.

It made the announcement on Wednesday at a conference in Kuwait City.

The fund also says it reached an agreement with Iraq to settle its outstanding dues to the organization, allowing it to fully rejoin it.

The Islamic Development Bank also pledged $500 million toward reconstruction in Iraq.

Turkey has pledged $5 billion while Qatar has pledged $1 billion to help rebuild Iraq after the war on the Islamic State group.

Turkey's Foreign Minister Mevlut Cavusoglu and Qatar's Foreign Minister Mohammed bin Abdurahman Al Thani made the announcements in Kuwait City at a donor conference on Wednesday.

Meanwhile, the United Arab Emirates pledged $500 million while Germany pledged 500 million euros.

Earlier in the day, Kuwait's ruling emir said his oil-rich nation will give $1 billion in loans and $1 billion in direct investments to help rebuild Iraq. Saudi Arabia pledged $1.5 billion.

সম্পাদক : ইমদাদুল হক মিলন,
নির্বাহী সম্পাদক : মোস্তফা কামাল,
ইস্ট ওয়েস্ট মিডিয়া গ্রুপ লিমিটেডের পক্ষে ময়নাল হোসেন চৌধুরী কর্তৃক প্লট-৩৭১/এ, ব্লক-ডি, বসুন্ধরা, বারিধারা থেকে প্রকাশিত এবং প্লট-সি/৫২, ব্লক-কে, বসুন্ধরা, খিলক্ষেত, বাড্ডা, ঢাকা-১২২৯ থেকে মুদ্রিত।
বার্তা ও সম্পাদকীয় বিভাগ : বসুন্ধরা আবাসিক এলাকা, প্লট-৩৭১/এ, ব্লক-ডি, বারিধারা, ঢাকা-১২২৯। পিএবিএক্স : ০২৮৪০২৩৭২-৭৫, ফ্যাক্স : ৮৪০২৩৬৮-৯, বিজ্ঞাপন ফোন : ৮১৫৮০১২, ৮৪০২০৪৮, বিজ্ঞাপন ফ্যাক্স : ৮১৫৮৮৬২, ৮৪০২০৪৭। E-mail : [email protected]