Countries who fought Islamic State must help rebuild Iraq -Tillerson

Countries who fought Islamic State must help rebuild Iraq -Tillerson

Iraqi officials said at the conference on Monday that it will cost more than $88 billion to rebuild Iraq, with housing a particularly urgent priority.

The estimate was based on an assessment study by Iraqi and worldwide experts, the minister told the opening session of the three-day conference.

Qusay Adulfattah, director-general of Iraq's planning ministry, said Iraq would need $23 billion in the short term to help with rebuilding.

The U.S. alone spent $60 billion over nine years — some $15 million a day — to rebuild Iraq.

The meeting, which brings together several economic powers, as well as regional and worldwide organisations, will discuss the required contributions to rebuilding Iraq after many years of war and conflict, reports Xinhua news agency.

Iraq declared victory over ISIS in December, having taken back all the territory captured by the group in 2014 and 2015.

Other Iraqi authorities said that a bulk of the funds was urgently needed for rebuilding the houses destroyed during the Daesh militancy, which are estimated at around 147,000 units.

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Worldwide organisations are to speak on the first day, while attending donor countries are expected to make announcements on the third.

The State Department has said it will not be making "direct contributions" to finance the reconstruction efforts but that over 150 American companies would travel to Kuwait as part of its private sector drive for the conference.

"The government came out and said: we are serious about reforms. they know they need to give confidence to the worldwide community that Iraq is a new country, a new place to invest and that will be protected and safe", said Ms Grande.

The US also occupied Iraq for eight years after its invasion of the country in 2003, which led to the fall of former strongman Saddam Hussein. We will always be there.

Iraq-OPEC's second-largest oil producer behind Saudi Arabia-will be looking to attract investment mostly in the downstream, planning the construction of new refineries with different capacities, including one at the Al-Faw Port with a 300,000-bpd capacity.

The US, the largest backer in the global coalition against Isis, has no plans to pledge any cash in this conference, American officials told Reuters. "We will also be there in the reconstruction phase", Le Drian said. It fought Iran for most of the 1980s and invaded Kuwait in 1990, leading to defeat by a US -led coalition and more than a decade of sanctions.

"If the global community doesn't help the government of Iraq to stabilise these areas (devastated by the war) the gains against Daesh could be at risk", she said, using the Arabic acronym for Islamic State.

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