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Kuwaiti FM: KICRI participants total pledges reached USD 30 bln
February 15, 2018, 8:59 am

Kuwait Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah said Wednesday that total contributions by countries participating in Kuwait International Conference on Reconstruction of Iraq (KICRI) has reached USD 30 billion.

Sheikh Sabah Al-Khaled said, in his speech at the closing session of ministerial meeting, that this amount came as result of a broad momentum that came from 76 participating countries, along with 51 international development funds, 107 local and international NGOs, in addition to 1,850 representatives from the private sector.

Meanwhile, Abdullah Al-Maatouq, chairman of the Islamic International Charity Organization (IICO) said the number of pledges at the NGO Conference to Support the Humanitarian Situation in Iraq has reached 337 million dollars.

Al-Maatouq, made in his capacity as a representative of the NGO meetings at the closing session of the Ministerial Meeting of KICRI, during which he reviewed the results of NGOs conference.

Al-Maatouq added that these pledges will be in accordance with humanitarian and development programs in Iraq, especially in areas affected by armed conflicts there, which will be distributed in the areas of health, housing, education, rehabilitation and other humanitarian fields.

IICO chief noted that participants from all parties stressed importance on the need to respond to the humanitarian situation in the areas affected by the armed conflicts and on establishing a mechanism to follow up on the execution of these programs through periodic meetings and follow-up reports.

On another front, Kuwait Fund for Arab Economic Development (KFAED) Abdulwahab Al-Bader said that the estimated amount needed for Iraq's reconstruction is estimated at USD 88 billion, adding that the current estimated losses due to war in Iraq has reached USD 46 billion.

Al-Bader said, as a representative of the private sector meetings in the closing session, that the "high-level experts meeting for the reconstruction of Iraq and the role of financial institutions" was held in the presence of about 420 individuals from various financial institutions, investment companies from different countries around the world.

Al-Bader added participants underlined the importance of supporting reform programs in Iraq, for the purpose of reconstruction, in addition to enhancing the social aspect in different regions of Iraq, and to brief various development institutions on the reconstruction process.

Finally, the President of Kuwait Chamber of Commerce and Industry (KCCI) Abdulwahab Al-Wazan said that Kuwait's private sector position coincide precisely with the State of Kuwait position in supporting Iraq.

AL-Wazan added such position by KCCI would also contribute to efforts exerted for developmental projects in Iraq to the point of reaching a comprehensive viable developmental partnership based on good neighboring and joint interests.

KCCI chief added that the private sector is cooperating with the Iraqi side, which he described the role as permanent and continuous, and will not end when the conference ends, but will continue with investment projects.

KICRI kicked off last Monday and concluded today with participating countries, regional and international organizations.

Source: KUNA

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