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Kuwait based fund throws weight in Iraqi reconstruction conference

Updated : Wednesday, 07 February 2018, 11:22:01 AM
He told that they are unable to work in Iraq because Baghdad has failed to make necessary payments needed for business, pointing out that the country is facing a debt worth, USD 200 mn.
By Vinila Elizabeth Varghese
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Kuwait City (IAMINKUWAIT), Feb 6th:  The Arab Fund for Economic and Social Development (AFESD), supported a Kuwait hosted conference over reconstruction in war-torn Iraq , said its Chief .

Director General Abdullatif Al-Hamad , revealed that the Kuwait based fund has financed around 600 projects in the Arab region , at a total cost of KD 7 billion(USD 23 bn) .

He told that they are unable to work in Iraq because Baghdad has failed to make necessary payments needed for business, pointing out that the country is facing a debt worth, USD 200 mn.

The AFESD chief told the Iraqi officials to solve the pan-Arab financial institution to conduct business in Iraq again .

AFESD is a regional financial institution focused on funding economic and social development by financing as well as private investment projects.

Over 400, International Business from across international community, alongside dozens of governments are expected to attend the Kuwait hosted talks on Feb 12-14th.    

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