Kuwait to give $2bn in loans, direct investments to help rebuild Iraq

Kuwait’s ruling emir says his country will give $1 billion in loans and $1 billion in direct investments to help rebuild Iraq. The move is seen as a stunning donation as only a generation ago Saddam Hussein invaded the small, oil-rich nation, AP said. Sheikh Sabah Al Ahmad Al Sabah said at a donors’ summit at Kuwait City’s Bayan Palace on Wednesday that this assembly of international communities “is reflective of the large loss that Iraq withstood in facing terrorism.” Iraq needed far more donations on Wednesday, the last day of an appeal for funding to come forward at the Kuwait conference. Overall, Baghdad is seeking $88.2 billion in aid from donors.