Planning Ministry says Iraq’s reconstruction will cost $88.2 billion

ERBIL, Kurdistan Region (Kurdistan 24) – The reconstruction of Iraq, which has been devastated by years of war and financial difficulties, will cost roughly $88.2 billion, according to an Iraqi official.

It will take about $22 billion in the short term and $65 billion in the medium term to rebuild Iraq, the Director-General of the country’s Planning Ministry, Qusay Abdulfattah, told participants of the International Conference for the Reconstruction of Iraq in Kuwait on Monday.

The Iraqi official affirmed that the housing sector was in urgent need of funds, making it the top priority.

The conference began Monday morning and will continue until Wednesday, with over 70 countries participating and looking to help rebuild the war-torn country.

Iraqi Prime Minister Haider al-Abadi previously claimed the country needed $100 billion in assistance to rebuild damaged and destroyed infrastructure in Iraq as well as its economy.

A delegation for the Kurdistan Regional Government (KRG) is also attending the conference, aiming to secure its fair share of the funding for the semi-autonomous Kurdistan Region. The region’s forces were at the forefront of the fight against the Islamic State (IS) since 2014 and its areas have also been considerably damaged and destroyed by the conflict.

“Kurdish participation in the conference is crucial. It is unfortunate to see the Iraqi government focus almost all strategic investments in the middle and southern parts of the country while leaving very little for the Kurdistan Region,” Duhok Governor Farhad Atrushi told Kurdistan 24 on the sidelines of the conference.

The United States, which leads the Global Coalition and provided Iraq with essential air support in the fight against the jihadist group, announced it does not plan to contribute any money at the Kuwait conference.

Editing by Nadia Riva