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| 14 February, 2018

Allies pledge billions for Iraq's reconstruction

Iraq received billions of dollars in credit lines, loans, and investment from Turkey, Gulf Arab allies, Europe, and other countries.

Construction labourers work at the site of a new hotel in Najaf, 160 km (100 miles) south of Baghdad April 26, 2012. Image for illustrative purposes.

Construction labourers work at the site of a new hotel in Najaf, 160 km (100 miles) south of Baghdad April 26, 2012. Image for illustrative purposes.

REUTERS/Ali Abu Shish

KUWAIT- Iraq received billions of dollars in credit lines, loans, and investment from Turkey, Gulf Arab allies, Europe, and other countries, their representatives announced at an international conference in Kuwait on Wednesday.

Turkey said it would give Iraq $5 billion in credit lines. Saudi Arabia's foreign ministry said his country was providing a$1 billion loan through its Saudi Fund for Development and $500 million in export credit.

Qatar announced $1 billion in loans and investments while the United Arab Emirates pledged $500 million for rebuilding. Germany said it would provide $350 million in assistance.

Britain pledged up to $1 billion annually in export credit over 10 years and Japan said it would contribute $100 million this year to Iraq through U.N. agencies and international organisations.

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UAE Minister of State for Foreign Affairs Anwar Gargash later tweeted that there were also $5.5 billion from the UAE in private investments in Iraq "in addition" to his country's pledge but it was not clear if this was a new announcement.

(Reporting by Maher Chmaytelli and Ahmed Hagagy; Writing by Ahmed Aboulenein; Editing by Alison Williams) ((ahmed.aboulenein@thomsonreuters.com; +964 790 191 7021; Reuters Messaging: ahmed.aboulenein.thomsonreuters.com@reuters.net))