Iraq in dire need of USD 100bln for reconstruction plan, says minister

Baghdad (Iraqinews.com) – Iraq is in dire need of USD 100 billion to reconstruct areas recently liberated from Islamic State militants, Iraqi Planning Minister Salman al-Jumaili was quoted as saying Sunday.

“During a meeting with a Kuwaiti media delegation, currently on a visit to Baghdad, Jumaili highlighted that a detailed plan was outlined to finalize Iraq’s reconstruction by 2027,” Jumaili’s media office said in a statement, a copy of which was obtained by Baghdad Today.

The meeting touched on measures taken by the Iraqi and Kuwaiti governments in preparation for a conference that will be held in Kuwait in February on the reconstruction of Iraqi cities devastated by the anti-Islamic State war.

Jumaili also briefed the Kuwaiti delegation on investment opportunities available in Iraq and urged Kuwaiti businessmen to make use of such opportunities through pumping huge investments into his country.

“The reconstruction of Iraq will be funded by investment budgets and development programs, as well as grants expected to be offered by the donors countries taking part in the Kuwait-held conference, and finally investment projects,” he added.

Jumaili noted that the Iraqi government has developed a five-axis plan to achieve sustainable development in Iraq and restore the country’s security and stability.

The Kuwaiti delegation, meanwhile, praised deeply-rooted relations between Iraq and Kuwait in all fields, noting that the conference that will be held in Kuwait next month for Iraq’s reconstruction will be attended by a wide range of international institutions, non-governmental organizations and donors countries.

“Kuwait is now ready for hosting the conference that will last for three days,” the delegation members highlighted.