KUWAIT, Feb 14 (KUNA) -- World Bank Group on Wednesday reiterated commitment to increasing the amount of financing allocated to helping the Iraqi people and the country's reconstruction.
The remark came during the Bank's President Jim Yong Kim's speech at the official inauguration of the Kuwait International Conference for the Reconstruction of Iraq (KICRI).
Post-IS Iraq is putting many investment opportunities on the table, as the process of reconstruction and development could be efficiently pursued through the private sector, he noted.
Kim said that the Bank has ratcheted up its financial commitments to Iraq from USD 600 million in 2016 to a current USD 4.7 billion, pending further increases, in order to rejuvenate the economy and rebuild cities torn apart by war.
He pointed out that human capital was of upmost significance to ensure long-term development, saying the Middle East region was in dire need of "quality investment in healthcare and education". (end) mge.hb