Italy to Provide $33Mln Aid Package, $440Mln Loan to Iraq in 2016-2018

© REUTERS / Axel SchmidtItalian Foreign Minister Paolo Gentiloni attends a press conference after a foreign minister meeting of the EU founding members in Berlin, Germany, June 25, 2016
Italian Foreign Minister Paolo Gentiloni attends a press conference after a foreign minister meeting of the EU founding members in Berlin, Germany, June 25, 2016 - Sputnik International
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Italian Foreign Minister Paolo Gentiloni said that Italy will provide funding worth 30 million euros from 2016 to 2018 to Iraq and grant a 400-million-euro loan for the same period.

ROME (Sputnik) — Italy will provide an aid package worth 30 million euros ($33 million) and grant a loan of 400 million euros to the Iraqi government between 2016 and 2018, Italian Foreign Minister Paolo Gentiloni said Thursday.

"Yesterday we announced our intention to provide funding worth 30 million euros from 2016 to 2018 to Iraq and grant a 400-million-euro loan for the same period," Gentiloni said, as quoted by the askanews outlet.

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The decision is reported to have been made a day before at a conference dedicated to the support of Iraq's stabilization as the participants pledged to raise additional funding of over $1 billion for the Iraqi government.

Iraq is suffering from the onslaught of the Islamic State terrorist group, which is outlawed in many countries, including Russia and the United States. More than 3.3 million Iraqis have been displaced since 2014 by the hostilities in the country, according to the US State Department.

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