Iraqi government finalises post war reconstruction costs
The Iraqi government is expected to release detailed information today documenting the extent of damage caused to the country by ISIS’ insurgency.
In anticipation of a Kuwait-hosted donor conference in February, Iraq is preparing to outline the costs of recovery from the insurgency and measures to gain further international assistance in said recuperation.
The conference comes after Iraqi PM Haider al-Abadi’s declaration of victory over ISIS last month. His announcement marks a rapid turnaround from 2014, when ISIS seized a third of the country.
Iraq is estimated to need around $100 billion to fund its recovery, and the conference aims to raise a significant portion of that sum. However, expect the summit to be impacted by the regional rivalry between Iran and the Gulf states. As Washington’s role in funding an Iraqi recovery is in question, Riyadh and Tehran will use the conference to vie for influence over Baghdad; both hope to gain the upper hand in currying favour with the oil-rich country.
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