$88.2 billion price tag for rebuilding Iraq after Islamic State war

US not planning to contribute money at Iraq reconstruction conference officials

In order to rebuild the country after three years of fighting ISIS terrorism, Iraq needs USD88.2 billion, Planning Minister Salman al-Jumaili said Monday at an worldwide conference on the country's reconstruction in Kuwait.

The conference, which took place in Kuwait, involved donors and investors discussing efforts to rebuild Iraq's economy and infrastructure following the defeat of ISIS jihadists who conquered almost a third of the country.

The United States, which leads an worldwide coalition that provided Iraq with key air support in the fight against ISIL, does not plan to pledge any money at the Kuwait conference, US officials said.

About $22 billion will be required in the near future and another $66 billion later, the director-general of the country's Planning Ministry, Qusay Abdulfattah, told the conference, without indicating a time frame.

Damages affecting the seven provinces attacked by ISIS total $46 billion with 147,000 housing units destroyed, according to Reuters.

Iraq has published a list of some 157 projects for which it is seeking investment.

At the beginning of the war in 2014 Islamic State held nearly a third of the territory inside Iraq, and controlled as much as 34,000 square miles across Iraq and neighbouring Syria, as it pushed to establish an ancient caliphate across the Middle East and beyond.

"The U.S., which has already spent billions of dollars on the war against ISIS and in providing aid to displaced Iraqis and Syrians, doesn't intend to donate funds for Iraq's reconstruction", pointed out WSJ.

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About 2.5 million Iraqis remain displaced by the fighting, he added.

Lise Grande, UN humanitarian co-ordinator for Iraq, said failure to help Iraq could lead to renewed instability.

The third day will be allocated for a meeting of the foreign ministers and will be concluded by a final communique about the new financial allocations to be channeled to Iraq.

Non-governmental organizations pledged $330 million USA in humanitarian aid to Iraq at a parallel NGO conference on the sidelines of the main reconstruction one, Kuwait's state news agency KUNA reported.

The three-day meeting brings together several economic powers as well as regional and global organizations to discuss the needed contributions to rebuilding Iraq in the post war era.

In an effort to help rebuild war-torn Iraq now that Daesh has been defeated in the country, the Turkish government and businesses want to assume leading roles in the redevelopment of Kirkuk, Mosul, Tal Afar, Baghdad and other cities.

However, officials acknowledge a feeling of fatigue from worldwide donors, especially after the wars in Iraq and Syria sparked the biggest mass migration since World War II. The years of insurgency, sectarian violence and ethnic tensions that followed his overthrow in 2003 helped fuel the emergence of IS, a little more than a decade later.

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