Reconstruction in Iraq requires 88.2 billion Dollars

Tillerson to address Iraq Reconstruction Conference but promise no US money

Kuwait's Minister of Foreign Affairs Sheikh Sabah al Khalid Al Sabah, U.S. Secretary of State Rex Tillerson, and U.S. envoy to the coalition against Islamic State Brett McGurk attend the Kuwait International Conference for Reconstruction of Iraq, in Bayan, Kuwait February 13, 2018.

"Today's announcement will contribute to the reconstruction of critical services in areas that have been liberated from Daesh and will concretely encourage women's empowerment in Iraq by promoting their participation in reconciliation efforts and advancing the economic involvement of women in their communities", Freeland said. Iraq is the 10th most corrupt country in the world, according to Transparency International.

Kuwait's Under Secretary for Foreign Affairs, Khaled al-Jarallah announced that over 2,000 companies and businessmen due to attend the conference where the first day will be dedicated to worldwide and civil organisations. Only half have returned to their hometowns in Iraq. It has struggled to pay worldwide firms running them.

The over $3 billion package now planned for Iraq from the Americans will come from the Export-Import Bank of the United States, according to a US official. "USA officials haven't specified the amount, but it is expected to be in the neighborhood of $2 billion to $3 billion".

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However, analysts argue the emergence of the Islamic State group was only possible due to the power vacuum the United States created when it invaded Iraq and toppled Saddam Hussein. The disaster of the loss of 40% of the country's territory to ISIL in 2014 was accompanied by the disaster of a dramatic halving of oil prices in recent years.

The Director General of the Iraqi Ministry of Planning Qusay Abdulfattah said at the conference that the reconstruction of Iraq requires 22 billion dollars urgently in the short term, and 66 billion dollars in the medium term.

Kuwait non-profit organisations and government-supported charity institutions pledged more than $100 million of the figure.

"I have come to tell you of France's support to accompany you. There is money to continue fighting, there is money to continue agendas that are not serving children", Cappelaere said. "We know we can not provide it through our own budget", he said at the World Economic Forum in Davos, Switzerland last month. Every problem Iraq faces today can be traced back to the actions of the USA, 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.


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