Iraq to present $100 bn plan to rebuild war-torn nation

Cairo Jan 22 (IANS) Iraq is due to present a 10-year reconstruction plan costing $100 billion at an upcoming international donor conference in Kuwait following the country s complete liberation from the Islamic State the Iraqi planning minister announced on Monday.

According to Kuwait s state-run Kuna news agency Salman al-Jumaili said $47 billion would be allocated to rebuilding infrastructure and government facilities.

Al-Jumaili explained the plan was to include 10 economic projects such as rebuilding the Baiji oil refinery Iraq s largest located between the capital Baghdad and Mosul.

The $100 billion is expected to be collected through grants and loans made at the Kuwait International Conference for Rebuilding Iraq as well as the Iraqi government s own funds.

The conference is set to take place in Kuwait between February 12-14 in cooperation with the United Nations the European Union and the World Bank.

--IANS
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