Iraq sets up fund to manage reconstruction donations
Iraqi firefighters look for bodies buried under the rubble, of civilians who were killed after an air strike against Islamic State triggered a massive explosion in Mosul. REUTERS/Stringer
Baghdad (IraqiNews.com) Iraq declared today, Tuesday, it is setting an international fund to manage reconstruction donations to the country struggling to recover from years of war.
Planning Minister Sabah al-Dulaimi said in a statement by his media office, quoted by Baghdad Today, that the fund will work on directing funds received through the international donors conference held in Kuwait in February 2018.
The minister made the declaration while receiving the head of the World Bank’s Mashreq Department, Saroj Kumar.
He said the fund will seek to make “economic reform in Iraq by securing basic services and quality support for the private sector”.
Iraq, the economy and infrastructure of which suffered much damage by the war against Islamic State militants since 2014, hoped to secure at least 100 billion dollars from the Kuwait meeting, but the conference came out with pledges worth 30 billion dollars.