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Feb. 14 (UPI) -- Iraq's allies have pledged $30 billion in support of a two-year recovery and rebuilding program for the country, the United Nations announced Wednesday. The commitments came at a three-day donor conference in nearby Kuwait City. U.N. Secretary-General Antonio Guterres urged nations to support an effort to rebuild Iraq. Guterres spoke about literal reconstruction of the nation's infrastructure, as well as its political and social channels.
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"Iraq surmounted an incredible challenge in its defeat of ISIL [IS], but many challenges still remain," he said. "After the last three days in Kuwait, I feel hope for a new Iraq that is open for business and prepared to face the next challenge of rebuilding communities while reconstructing schools, roads, bridges, hospitals and public infrastructure. A prosperous Iraq will be a pillar for development and stability in the region."
Iraq's government, however, said it needs roughly $88 billion to finance reconstruction efforts, the international newspaper Asharq Al-Awsat reported.
The meeting convened two months after the Iraqi government declared victory in a three-year battle against the Islamic State. Damage to civilian infrastructure, including houses, schools and power plants, totaled more than $45 billion, the Wall Street Journal reported. It added that nearly 6 million people were displaced.
Saudi Arabia and Qatar each offered $1 billion. The United Arab Emirates pledged $500 million. Kuwait contributed $1 billion through its development fund as well $1 billion more in investment. The Arab Fund pledged $1.5 billion, the Islamic Development Bank added $500 million and Turkey extended a $5 billion line of credit and $50 million in humanitarian assistance. Germany pledged $430 million.
Earlier this week, the U.S. Export-Import Bank agreed to a memorandum of understanding guaranteeing $3 billion in loans but the United States provided no further contributions at the conference. Iran attended the conference but made no offer.
