Iraq requires over $100 billion to rebuild its shattered infrastructure
By: Struan Stevenson* (Riyadh Daily)
Iraq reconstruction.. a fool's errand
Plans for the wholesale reconstruction of Iraq are being trumpeted by Prime Minister Haider Al-Abadi and his government cronies.
Abadi told the World Economic Forum in Davos in January that his country required over $100 billion to rebuild its shattered infrastructure. At the international conference in Kuwait on 14th February, the Kuwaiti Foreign Minister claimed that over $30 billion had been pledged by 76 countries.
Some of the biggest potential donors included Turkey, who pledged $5 billion, the US who say they will pay $3 billion, Saudi Arabia and Kuwait who have promised $1.5 billion each, Qatar who are offering $0.5 billion and the EU, which seems prepared to pay something approaching $0.5 billion.
So billions are already in the promissory pipeline, although the war-ravaged country will require a lot more than this to get back on its feet.
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