The Emir of Kuwait told the conference that the security and stability of Iraq is integral to his country's stability and that of the wider region, and that in pledging money to aid reconstruction the global community was recognising the huge sacrifices Iraq has made in the face of terrorism.
The head of the U.N.'s mine-clearing agency in Iraq says it will have to reassess priorities with the government in Baghdad if a major donors conference fails to drum up enough funds for the country as it rebuilds.
For her part, Mogherini praised joint work and the strong relations between Kuwait and the European Union (EU).
Non-governmental organisations on Monday pledged $330mn but the main commitments are expected to be made by about 70 countries on the final day of the conference today.
"Foreign investors can establish Iraqi companies", he told AFP, adding that investors would be given lease contracts for 50 years, renewable for a similar period.
The United States leads the coalition and hopes that after a three-year fight to defeat the militants it can count largely on Gulf allies to shoulder the burden of rebuilding Iraq.
U.S. Secretary of State Rex Tillerson says the battle against the terror group ISIL is not over.
The nations gathered at the Iraq reconstruction summit in Kuwait agreed on Wednesday to supply the war-torn country with $30 billion (€24 billion) in aid.More news: PGA golfer Bill Haas injured in auto crash near Riviera, authorities say
More news: Google is testing smart replies in popular third-party messaging apps
More news: McDaniels Backs Out of Colts Deal; Will Stay With New England
"The majority of the damage was to western Mosul as it went through one of the worst and fiercest battles in history", said Nofal al-Akoub, the governor of Iraq's Nineveh province.
In an interview with al-Hurra TV, a US-funded Arabic network, Tillerson said the event in Kuwait was not meant to be a donor conference. It is also counting on a Saudi-Iraqi rapprochement to weaken Iran's influence in Iraq.
"We must continue to clear unexploded remnants of war left behind by ISIS, enable hospitals to reopen, restore water and electricity services, and get boys and girls back in school".
International NGOs have so far pledged 330 million dollars in humanitarian assistance.
We discuss Iraq's reconstruction efforts in this week's edition of Beyond the Headlines.
The emir of Kuwait pledged US$2 billion towards the reconstruction of neighbouring Iraq, at an worldwide donors' conference in Kuwait City on Wednesday.
He said tens of billions more were lost indirectly through damage to the wider economy and years of lost growth.