Global coalition pledge their continued fight against Daesh

Global coalition pledge their continued fight against Daesh

She says the money will support the rebuilding of critical infrastructure, such as roads, bridges, power stations, hospitals and government buildings in regions freed from the control of the Islamic State group.

The Emir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, has pledged $2 billion to the reconstruction of Iraq.

While the US will not make any new direct aid pledges at the conference, Secretary of State Rex Tillerson is expected to announce an over $3 billion financial package, an American official said.

Baghdad says it needs almost $90 billion to rebuild after a three-year war against IS which devastated homes, schools, hospitals and economic infrastructure, displacing millions of people.

Burgan Bank, a diversified growing financial powerhouse, welcomed one of its majority-owned subsidiaries, the Bank of Baghdad (BoB) delegation to Kuwait who attended the "Invest in Iraq Conference" held in Kuwait City.

The U.S. and the United Kingdom - countries leading the 2003 invasion of Iraq - also said they would allocate funds for the reconstruction of Iraq.

He made the announcement at the International Coalition against the Islamic State (IS) meeting at the level of foreign ministers, which kicked off on Tuesday.

Iraq, which still owes Kuwait reparations from the 1991 Gulf War, declared victory over Islamic State in December, having taken back all the territory the jihadist group captured in 2014 and 2015.

The plan spans the next 10 years and Iraq announced on the opening day of the conference that the country needs investments worth $88.2bn, of which $22bn were required immediately.

The U.S. has pledged to keep troops in Syria and Iraq for the foreseeable future, despite not being invited to do so by the Syrian government and continued unease over the U.S. presence in Iraq.

US Secretary of Defence Jim Mattis sent a letter to North Atlantic Treaty Organisation last month calling for a formal North Atlantic Treaty Organisation train-and-advise mission, Reuters reported, part of President Donald Trump's campaign for the alliance to do more against militants. The package will be structured so that the initial amount could rise to as much as $5 billion over several years.

Ambassador of Kuwait Mansour Al-Otaibi said that in February this country is the temporary president of the UN Security Council and prioritizes the discussion of issues related to the Middle East.

It is also counting on a Saudi-Iraqi rapprochement to weaken Iran's influence there.

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