Iraq News - Local News - Baghdadpost

Revealed: Iran's scheme during Kuwait Conference foiled

The US-led coalition countries undermined an Iranian scheme at Kuwait conference for Iraq that aimed at obtaining the Gulf funds and only allow Iranian companies to work in reconstruction process in Iraq, sources said on Friday.
A total $30 billion in pledges were made at the donor conference after the country’s devastating war with the ISIS group, falling well short of the $88.2 billion Baghdad is seeking. 
The biggest pledge at the gathering in Kuwait came from Turkey, which announced $5 billion in credit to Iraq, while Kuwait’s ruling emir said his oil-rich nation will give $1 billion in loans and $1 billion in direct investments.
Saudi Arabia pledged $1.5 billion while the Kuwait-based Arab Fund says Iraq will receive $1.5 billion in infrastructure aid in coming years.
Qatar, which is embroiled in a diplomatic crisis with a quartet of Arab nations led by Riyadh, pledged $1 billion. The United Arab Emirates pledged $500 million, as did the Islamic Development Bank. Germany pledged 500 million euros ($617 million) and the European Union 400 million euros ($494 million).