Iraq News Agency

MOP: Iraq needs around 88 billion dollars for reconstruction

INA – Baghdad

Iraq needs $88.2 billion to rebuild after years of war against the Islamic State group, Planning Minister Salman al-Jumaili said Monday, as an international conference on the country’s reconstruction opened in Kuwait.

The $88.2 billion estimate was based on an assessment study by Iraqi and international experts, the planning minister said.

“The total amount of the damage of the affected areas reached $46 billion. That includes Nineveh, Anbar, Salah Al Din, Baghdad, Babel, Diyala and Kirkuk,” he added, “The security sector damage estimated at $14 billion and the other financial associations including banks estimated at $10 billion”

He also pointed at the $22 billion of those funds are needed immediately and the rest for the medium term. Saying “Funds are urgently needed to ‘restore basic and infrastructure services’ in many provinces”

Al-Jumaili also asserted that the damages of Housing sector reached $16 billion, “147,000 destroyed building, 37% in Nineveh, 22% in Salah Al Din and 17% in Anbar.

As for the Energy, Gas and Oil sectors are affected by the highest damaged infrastructure which was estimated at $11 billion.

The Industry and Trade were the highest among the damage of production sector which is estimated at $5 billion.

The agriculture sector damage estimated at $2 billion, the Education at $2.4 billion and the Health at $2.3 billion.