Canada Pledges $200 Million To Help Iraq Implement Economic Reforms

Canada Pledges $200 Million To Help Iraq Implement Economic Reforms

The Canadian government said on Tuesday (July 19) it is set to pledge up to $200 million to the Iraqi government during a pledging conference hosted by the United States outside of Washington, DC.

Funds will go through the World Bank to help Iraq’s government implement economic reforms, Huffington Post Canada reported.

The new pledged amount is in addition to the $1.6 billion dollars Ottawa announced in February as part of its commitment to fighting against the Islamic State (ISIS) in Iraq and Syria.

Washington is hosting a pledging conference and hopes to raise more than $2 billion for stabilization, demining and humanitarian relief in Iraq.

According to the State Department, funding and stabilization efforts are being carried out in coordination with the governments of Canada, Japan, Germany, the Netherlands and Kuwait.

The Japanese Embassy in Baghdad announced in a statement on July 17 that Tokyo would provide Iraq with $2.17 million to help the country promote development and government reforms.

The funding – also allocated through the World Bank – is intended to support four sectors including social protection, modernization of the national payments system, promoting safety and reliability and improving the performance of business activities and supporting the government reform.

That amount would bring Japan’s total contribution to relief efforts in the country to $256.3 million just since 2012, not including the nearly $7 billion pledged in November 2015 to reconstruct devastated areas inside Iraq, including in the Kurdistan Region.