Saudi Cabinet announces KSA’s $1bn pledge for Iraq reconstruction projects

RIYADH: The Saudi Cabinet has expressed the Kingdom’s eagerness for stability in Iraq and its permanent stand with all its sects and parties based on the teachings of Islam and the two countries’ historic relations.
Chaired by King Salman at Al-Yamamah Palace on Tuesday, the Cabinet also announced the allocation of $1 billion for the reconstruction projects in Iraq in addition to another $500 million to fund Saudi exports to the country during the Kuwait International Conference for Reconstruction of Iraq.
The Cabinet praised a statement from the foreign ministers of global coalition countries fighting the Islamic State of Iraq and the Levant (popularly known as Daesh) and their determination to continue fighting and eradicating the terror group.
The Cabinet also appreciated the coalition’s efforts and cooperation to cope with developments and find the best means to deal with threats posed by Daesh.
The Cabinet also renewed the Kingdom’s condemnation of the recent suicide attack in Maiduguri, Nigeria, and the shooting incident at a church in Dagestan, Russia, and offered condolences to the families of the victims.
Later, the Cabinet approved three agreements on political consultations, the Saudi-Korean Vision (2030) and air transport services between the Kingdom and the governments of New Zealand, South Korea and Australia.