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Feb 14, 2:47 AM EST

Kuwait to give $2 billion in loans, investments for Iraq

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AP Photo/Jon Gambrell

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KUWAIT CITY (AP) -- Kuwait's ruling emir says his oil-rich nation will give $1 billion in loans and $1 billion in direct investments to help rebuild Iraq.

Sheikh Sabah Al Ahmad Al Sabah made the announcement on Wednesday at a summit seeking donations to help rebuild Iraq after the war against the Islamic State group.

The announcement is in many ways stunning - many at the gathering in Kuwait remember how Iraq under dictator Saddam Hussein invaded Kuwait only a generation ago. It shows Kuwait's deep desire to see its northern neighbor have a stable government after the years of unrest following the 2003 U.S.-led invasion that toppled Saddam.

Overall, Iraq is seeking $88.2 billion in aid from donors.

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