Iraq needs $88.2 billion to rebuild after years of war against the Islamic State group, Planning Minister Salman al-Jumaili said Monday, as an international conference on the country’s reconstruction opened in Kuwait.
Iraq hopes to raise billions of dollars in pledges at the three-day meeting, as the country reels from the rise of IS and punishing fightback against the jihadist group. Baghdad declared victory against IS in December, after almost three years of war against the jihadist group that left large swathes of the country destroyed and millions displaced.
The $88.2 billion estimate was based on an assessment study by Iraqi and international experts, the planning minister said. Qusai Abdelfattah, director general at the planning ministry, said $22 billion of those funds were needed immediately and the rest for the medium term. “We have started some reconstruction programmes in areas affected by war,” said Mustafa al-Hiti, head of the reconstruction fund for areas hit in the fight against IS. “But what we have accomplished is less than one percent of what Iraq needs,” Hiti said. He said funds are urgently needed to “restore basic and infrastructure services” in many provinces.
Published in Daily Times, February 13th 2018.
In a groundbreaking move that promises to revolutionize the pilgrimage experience, Pakistani startup MYTM has…
Islamabad United, the most decorated team in Pakistan Super League history with three championships, proudly…
Karachi, Pakistan - May 17, 2024 A technical issue on Pakistan International Airlines (PIA)…
A businessman from Mandi Bahauddin in Gujarat, Ahmad Jawad, is funding fugitive YouTuber Adil…
Riyadh, KSA – [Date] – Bidaya Finance's commitment to digitally transform its operations is deeply…
Karachi, Pakistan: Pakistan's financial consultancy firm, Dellsons Associates (Pvt) Ltd, has signed a strategic partnership…
Leave a Comment