Germany to host Iraq investment conference: embassy

BAGHDAD: Germany will host a two-day investment conference for Iraq in Berlin next month, the country's embassy in Baghdad told AFP on Thursday.

"The conference will take place on the 5th and the 6th of November in Berlin," said Luay al-Rubaie, secretary to the German ambassador.

The United States and Britain have already hosted investment conferences for the war-torn country, which is desperately in need of cash injections as it struggles to rebuild its economy.

Iraqi Prime Minister Nuri al-Maliki attended the latest conference in Washington on Tuesday and Wednesday, which followed a similar meeting in London in May.

Finance Minister Baqer Jabr Solagh estimated last November that Iraq needed 400 billion dollars to rebuild the country, a figure the government is unlikely to be able to afford.

This month, the cabinet approved a 67-billion-dollar annual budget for 2010, the vast majority of which is earmarked for government salaries, leaving little left over for other projects.