|AP Photo/Jon Gambrell|
KUWAIT CITY (AP) — Kuwait’s ruling emir says his oil-rich nation will give $1 billion in loans and $1 billion in direct investments to help rebuild Iraq.
Sheikh Sabah Al Ahmad Al Sabah made the announcement on Wednesday at a summit seeking donations to help rebuild Iraq after the war against the Islamic State group.
The announcement is in many ways stunning – many at the gathering in Kuwait remember how Iraq under dictator Saddam Hussein invaded Kuwait only a generation ago. It shows Kuwait’s deep desire to see its northern neighbor have a stable government after the years of unrest following the 2003 U.S.-led invasion that toppled Saddam.
Overall, Iraq is seeking $88.2 billion in aid from donors.