IRAQ TO SPEND USD 100 BILLION ON REBUILDING

General

The Iraqi Government, on Tuesday, launched a 10-year reconstruction plan, tentatively estimated at USD 100 billion.

Prime Minister, Haidar Al-Abadi, said at a news conference that, the 2018-2028 scheme is designed to rebuild key facilities and boost development in all governorates.

The newly declared plan is different from the “stability restoration project,” currently executed in liberated towns, Al-Abadi said, explaining that, the latter scheme aims at providing urgent aid to facilitate comeback of the displaced, de-mining, securing basic services, such as water, power, healthcare and opening schools.

The stability restoration plan is funded with grants from several states and allotments deducted from the Iraqi state budget.

Iraq aspires to secure funding at a conference, due in Kuwait later this year, to help Baghdad rebuild towns, and areas liberated from the Daesh group.

The Amir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, is patronising the convention, for aiding the reconstruction in Iraq. Iraqi officials have praised the Kuwaiti initiative to host it.

The conference, also designed to involve the private sector in re-building the country, will group representatives of states, regional and international agencies and organisations, along with the European Union

 

Source: NAM News Network

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