Reconstruction in Iraq requires 88.2 billion US$

Monday, 2018-02-12 23:09:41
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A worker repairs a house in Mosul, Iraq January 28, 2018 (Photo:Reuters)
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Reconstruction in Iraq requires 88.2 billion US$, said Iraqi Planning Minister Salman Al Jumaili on Monday (Feb.12).

In his speech at the opening ceremony of the Kuwait International Conference for the Reconstruction of Iraq (KICRI), the Iraqi minister said his country needs 88.2 billion US$ to rebuild what has been destroyed by conflicts and the latest war against Daesh (Islamic state-IS).

According to a report provided at the conference by the minister, the total damage in Iraq by anti-IS military operations amounted to 45.7 billion US$, the most affected sectors in this country by the war against IS include housing sector, power, industry and commerce, oil and gas and transport.

The Director General of the Iraqi Ministry of Planning Qusay Abdulfattah said at the conference that the reconstruction of Iraq requires 22 billion US$ urgently in the short term, and 66 billion US$ in the medium term.

The three-day KICRI kicked off Monday in Kuwait City, which brought together several economic powers, as well as regional and international organizations, to make contributions to rebuilding Iraq after many years of war and conflict that ripped through various parts of the country.