Iraq has appealed for nearly £65 billion ($88.2 billion) to rebuild after three years of war with ISIS left more than 138,000 homes damaged and 2.5 million people displaced. The plea came at a three-day international reconstruction conference in Kuwait, where officials sought pledges from donors and investors to restore homes, schools, hospitals and economic infrastructure.
Baghdad declared victory against ISIS in December 2017, after Iraqi forces backed by a US-led coalition regained control of large areas seized by the terror group in mid-2014. However, the campaign left much of the country in ruins, particularly the northern city of Mosul, where entire city blocks were reduced to rubble and nearly a third of the historic Old City was damaged or destroyed.
Planning Minister Salman al-Jumaili said an assessment by Iraqi and international experts put reconstruction costs at $88.2 billion (71.8 billion euros). 'The funds will be initially used to reintegrate displaced people and also for rebuilding the infrastructure of public services,' he told AFP. Mustafa al-Hiti, head of Iraq's reconstruction fund, warned that less than one percent of needed work had been completed.
Aid groups pledged $330 million on the first day of the conference, including $130 million from the International Committee of the Red Cross. However, officials stressed that far more is required. The World Bank's Raja Rehan Arshad noted that more than $17.4 billion is needed for housing alone, while nearly $30 billion is required to restore energy and industrial infrastructure. The World Health Organization called for investment in hospitals, pointing to over 14 hospitals and 170 health facilities destroyed.
The conference brought together hundreds of representatives from countries, aid groups, UN agencies and corporations. The UN refugee agency described it as a 'unique opportunity' to help displaced Iraqis rebuild their lives. Iraq sits on some of the world's largest crude reserves, but the war and a slump in oil prices have diminished its revenues.
