Reconstruction in Iraq requires 88.2 billion United States dollars

Kurdistan hopes to get a fair share during the Reconstruction Conference in Kuwait

Kurdistan hopes to get a fair share during the Reconstruction Conference in Kuwait

The conference brings together hundreds of representatives of countries, aid groups, United Nations agencies and corporations.

Large parts of Iraq's second-largest city, Mosul, are still in ruins, more than six months after it was retaken by the government.

"Rebuilding Iraq is restoring hope to Iraq, and restoring the stability of Iraq is stabilizing the states of the region and the world", said Planning Minister Salman al-Jumaili, adding that it also fell on the global community to aid reconstruction.

Reconstruction in Iraq requires 88.2 billion USA dollars, said Iraqi Planning Minister Salman Al Jumaili on Monday. It announced $330 million alone had been pledged Monday for Iraq at a humanitarian conference in Kuwait City. Every problem Iraq faces today can be traced back to the actions of the U.S., be it the financial and military assistance it gave Iraq in the 1980s, the ruinous sanctions it imposed in the 90s or the occupation of the 21st century. Government auditors in 2013 found that at least 10 per cent of the money could not be accounted for, with billions of dollars wasted on dubious contracts. The conference was held in Kuwait and included donors and investors, as well as other countries.

The funding will go toward rebuilding roads, hospitals and government buildings in Iraq, according to a release from Global Affairs.

One reform focuses on improving the business environment by allowing foreign companies to register rapidly and begin work on construction projects.

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Another U.S. official said: "We are not planning to announce anything", but noted that U.S. Secretary of State Rex Tillerson, due to attend the Kuwait conference, may yet decide to announce a contribution.

Abdulwahab Al Bader, Director General of Kuwait Fund for Arab Economic Development (KFAED) reminded the attendees that Iraq was viciously attacked by terrorism, leading to the displacement of over five million civilians.

The U.N. has verified 150 attacks on education facilities and 50 attacks on health centres and personnel since 2014, UNICEF said in a statement. They considered the human dimension one of the main priorities in reconstructing Iraq, in order to help almost seven million people receive a better life, in addition to emergency food and medical assistance.

Involving private corporations is a bad idea since they have no stake in helping Iraq and will only be in pursuit of a quick profit.

French Foreign Minister Jean-Yves Le Drian also vowed his country's support during a visit to Iraq on Monday, without giving a specific figure.

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