KUWAIT, Feb 14 (KUNA) -- The European Union (EU) will be investing USD 400 million worth of aid money in Iraq, its High Representative for Foreign Affairs and Security Policy Federica Mogherini announced Wednesday.
Mogherini said that the sum is allocated out of the EU's budget, pointing out that the European bloc and the United States had provided Baghdad with USD 3.5 million worth of aid last year.
Mogherini applauded Kuwait for the country's commitment towards humanitarian causes in a region where "peace remains elusive," saying reconstruction in Iraq was a glimmer of hope for a brighter future.
The EU's High Representative for Foreign Affairs and Security Policy assured Baghdad that the aid given by the European bloc runs the gamut from educational and healthcare to military assistance, noting that an investment-friendly environment will invariably lead to a developed economy. (end) tm.nam