$30b pledges for Iraq

FORGETTING the past bitterness, Kuwait indeed took a big step and showed loarge heartedness for the future of Iraq by hosting an international conference of donors where pledges of $30b were made by different countries including $2b by the host country showing its deep interest in making the neighbouring country a peaceful and stable nation.
Devastated by a war with IS extremists that razed its cities and left millions homeless, Iraq in fact had asked $88b but we understand the pledges made at the Kuwait conference are sufficient enough to start the process of reconstruction. In his inauguration speech Kuwaiti Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah very pertinently pointed out that the magnitude of destruction inflicted on Iraq by terrorist groups cannot be overlooked, which requires it to embark on an inclusive reconstruction process that covers infrastructure and other public utilities. As the gigantic task could not be achieved by Iraq alone, hence, the pledges made by countries such as Turkey, Saudi Arabia, Kuwait and Qatar indeed could give Iraq a chance to dig itself out of the rubble left by the IS and the chaos that followed the 2003 US-led invasion that toppled Saddam Hussein. Though some analysts have voiced concerns that most of the pledges have come in the form of loans but being home to world’s fifth largest oil reserves, we have no doubt in saying that with right kind of policies and management, the country has the capacity to pay them back. We also expect that other countries will also contribute to the reconstruction process and the best way will be in the form of making investment in different important sectors. The speedy reconstruction process is imperative for overall political stability as well as bringing much needed relief in the life of common Iraqis. At the same time, we also hope that efforts will also be made by important Gulf countries towards addressing the plight of those in Syria, Yemen and the Palestinian refugees.

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