Donors pledge $30 billion to rebuild Iraq after war with IS
KUWAIT CITY » International donors pledged $30 billion to help rebuild Iraq after the war against the Islamic State group, Kuwait announced Wednesday, overcoming Western doubts and donor fatigue over Midle East crises to help the battle-ravaged nation.
While falling short of an estimated $88.2 billion needed to rebuild Iraq, it easily surpassed the $20 billion Iraqi officials initially said they needed to begin their difficult work. While much of the larger donations came in the form of loans, Iraq remains an oil-rich nation, and such debts can be forgiven by the countries and institutions offering them.
The pledges, if followed through with funding, could give Iraq a chance to dig itself out of the rubble left by the Islamic State group and the chaos that followed the 2003 U.S.-led invasion that toppled dictator Saddam Hussein.
Still, much remains uncertain for Iraq and the greater Middle East.