Finance minister, World Bank discuss Iraq conference

KUWAIT: Kuwait’s Finance Minister Dr Nayef AlHajraf held talks yesterday with the Vice President of the World Bank for the Middle East and North Africa Hafez Ghanem, focusing on preparations for a Kuwaithosted conference on reconstruction in Iraq. The two officials also discussed a number of projects the World Bank is pursuing in Kuwait, in an encounter attended by a number of Kuwaiti foreign ministry officials and representatives of the global financial institution.

Meanwhile, Kuwait Chamber of Commerce and Industry (KCCI) Director General Rabah Al-Rabah said that hosting Kuwait International Conference for Reconstruction of Iraq (KICRI) reflects its important humanitarian role and keenness to ensure security and stability of Iraq and the region.

Rabah assured keenness of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on the success of the conference and the importance of working to achieve progress in developing countries of the region, as well as benefiting its peoples, adding that this was what Kuwait has been working on throughout its history.

Rabah added that KCCI will contribute and participate in this conference through hosting the “Invest in Iraq” conference, which will start tomorrow with the participation of about 1,850 representatives from 49 countries, which will seek investment opportunities in Iraq, and to be aware of the guarantees provided to investors, international institutions, including the World Bank.

Rabah noted the existence of guarantees on investment opportunities in Iraq through international and regional institutions such as the World Bank, the International Monetary Fund and the Arab Investment Guarantee Corporation, which give greater encouragement to those wishing to invest and help with the reconstruction of Iraq. The Director General pointed out that the conference ‘Invest in Iraq’ will be held in the presence of Iraqi Prime Minister Haidar Al-Abadi, who will deliver a speech, noting that the conference will review investment opportunities in Iraq, totaling 157.