The U.S. Exim Bank plans to extend Iraq a $3 billion credit line to help rebuild the country after the war with Islamic State, Secretary of State Rex Tillerson said on Tuesday in Kuwait.

"To signal its strong commitments, the Exim Bank and Iraq's Ministry of Finance will sign today a 3 billion-dollar memorandum of understanding that will set a stage for future cooperation," he told a conference on Iraq's reconstruction in Kuwait.