Kuwait to give $2 billion in loans, investments for Iraq

KUWAIT CITY – Kuwait's ruling emir says his oil-rich nation will give $1 billion in loans and $1 billion in direct investments to help rebuild Iraq.


Sheikh Sabah Al Ahmad Al Sabah made the announcement on Wednesday at a summit seeking donations to help rebuild Iraq after the war against

the Islamic State group.


The announcement is in many ways stunning -- many at the gathering in Kuwait remember how Iraq under dictator Saddam Hussein invaded Kuwait only a generation ago. It shows Kuwait's deep desire to see its northern neighbor have a stable government after the years of unrest following the 2003 U.S.-led invasion that toppled Saddam.


Overall, Iraq is seeking $88.2 billion in aid from donors.


First published: 02.14.18, 10:09