At the conclusion of the International Donor Conference on Iraq on 12–14 February, held in Kuwait City, Iraq received USD30 billion dollars in pledged loans, credit lines, and investment for reconstruction efforts. Iraq assess that it needs USD88 billion to rebuild the country after the three-and-a-half year war against the Islamic State.
Donor-fatigue, Iraq’s high corruption record, and rampant aid mismanagement of the post-2003 donations were likely causes of the lack of offerings. The Iraq government presented 157 reconstruction projects, and 18 investment opportunities including in chemical, petrochemical, agriculture, and oil and gas sectors.
Prime Minister Haider al-Abadi is promoting a budget for 2018 that reduces the Kurdistan Regional Government’s (KRG) budget allocation from 17% to 12.67%.
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