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Business / Middle East Business

Italy pledges Iraq 260 mln euros in soft loans

Published: 14 Feb 2018 - 03:04 pm | Last Updated: 08 Nov 2021 - 03:53 pm
Iraqi Prime Minister Haider al-Abadi (C) attends the Kuwait International Conference for Reconstruction of Iraq, in Bayan, Kuwait February 14, 2018.

Iraqi Prime Minister Haider al-Abadi (C) attends the Kuwait International Conference for Reconstruction of Iraq, in Bayan, Kuwait February 14, 2018.

Reuters

KUWAIT: Italy will provide 260 million euros ($321 million) in soft loans to Iraq alongside $6.5 million in grants and $5 million in humanitarian assistance, Giorgio Marrapodi, Italy's director general for development cooperation, said on Wednesday.

He was speaking in Kuwait where donors and investors have gathered to discuss efforts to rebuild Iraq's economy and infrastructure as it emerges from a devastating conflict with Islamic State militants who seized almost a third of the country.