Germany signed an agreement to provide over $521 million to fund reconstruction Iraqi infrastructure damaged due to the war against the Islamic State

in BreakingNews @en by

Germany signed an agreement with the government of Iraq on Monday to provide a €500 million euro (over $521 million) credit facility to fund investments aimed at reconstructing Iraqi infrastructure damaged due to the war against the Islamic State during these years. The funding comes from the KfW Banking Group, with a small team of German officials to advise Iraq on how to distribute it. “We want to help the Iraqi government rebuild public infrastructure so that the people who had to flee IS terrorism can return to their homes” the words of the foreign minister Foreign Minister Sigmar Gabriel. After he have noted taht the liberation of eastern Mosul marked an important success: “Islamic State cannot be defeated militarily alone” and “More engagement and investment to ensure functioning water and energy supplies and transportation systems are needed to transform these cities and areas into peaceful, vibrant and liveable homelands. The credit, which is the biggest yet to Iraq, came after German Chancellor Angela Merkel promised support to Iraqi Prime Minister Al-Abadi last year.

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