What Happened?
Iraqi officials told an international donors’ conference that it will cost more than $88 billion to rebuild Iraq after fighting with the Islamic State for more than three years. The rebuilding effort includes Iraq’s infrastructure and economy. The conference was held in Kuwait and included donors and investors, as well as other countries.
The Latest
Qusay Adulfattah, director-general of Iraq’s planning ministry, said Iraq would need $23 billion in the short term to help with rebuilding. Damages affecting the seven provinces attacked by ISIS total $46 billion with 147,000 housing units destroyed, according to Reuters.
Iraq has 157 projects laid out that they are seeking investment for. These projects are largely focused on infrastructure, with rebuilding the facilities at Mosul’s airport a major focus, according to Reuters. Jobs for young people could be provided during the rebuilding of homes, schools and other vital infrastructure systems in the country.
What’s next?
Iraq gained $330 million in humanitarian aid from nongovernmental organizations at a conference that was held at the same time, according to Kuwait’s state news agency. The U.N. Humanitarian Coordinator for Iraq Lise Grande said instability could overcome Iraq if it does not receive the proper aid. The U.S. does not plan to contribute any aid to help rebuild, U.S. officials said. The U.S. occupied Iraq from 2003 to 2011.
In Context
ISIS held territory in Iraq from 2014-15. Iraq declared victory over ISIS in December of last year after reclaiming all of that territory. A large portion was retaken during a U.S.-backed eight-month offensive on Mosul last year.
