Reconstruction will cost $88.2 billion

TigerSwan to Attend Kuwait International Conference for Reconstruction of Iraq

One in four Iraqi children in poverty after war on Islamic State

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

Iraq declared victory over Islamic State in December, having taken back all the territory captured by the militants in 2014 and 2015.

About $22 billion USA will be required in the short term and another $66 billion United States in the medium term, the director general of the country's planning ministry, Qusay Adulfattah, told the conference, without indicating any time frame.

Kuwait City, Feb 12 Iraq needs Dollars 88.2 billion to rebuild after three years of war against the Islamic State group, Planning Minister Salman al-Jumaili said today at an global conference on the country's reconstruction in Kuwait.

Millions of people were displaced, in particular in the Sunni north, as a result of the battles and thousands were killed.

Kuwait International Conference for the Reconstruction of Iraq (KICRI) represents an opportunity to sustain humanitarian action in Iraq, Barzani Charity Foundation representative Awat Mustafa said Sunday.

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However, the secretary-general of Iraq's Council of Ministers Mahdi al-Alaq said nations could it help by acting as guarantors with global lenders.

Around 138,000 houses and flats have been damaged, with half of them completely destroyed. He said there were preliminary indications that some states would do so.

Non-governmental organizations pledged $330 million in humanitarian aid at a parallel NGO conference, Kuwait's state news agency KUNA reported.

Baghdad is determined to clamp down on "bureaucratic routine and corruption that in some cases are delaying investments", he said, responding to complaints by Kuwait companies about the difficulties of doing business in Iraq.

Iraq reopened to foreign investment after 2003, with most spent on increasing its oil and natural gas production.

The three-day KICRI kicked off Monday in Kuwait City, which brought together several economic powers, as well as regional and worldwide organizations, to make contributions to rebuilding Iraq after many years of war and conflict that ripped through various parts of the country.

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