The Iraqi government needs $88.2 billion (€71.92 billion) for reconstruction efforts after its victory against the "Islamic State" (IS) militant group, Iraqi Planning Minister Salman al-Jumaili said at the opening of an worldwide conference on the issue in Kuwait on Monday.
Regarding the objectives of the conference, Ghasemi said that the goal of the conference is to bring together various worldwide resources to reconstruct Iraq, especially to rebuild war-stricken areas, and to eradicate the root cause of domestic violent conflicts, and to attract national and foreign investment.
The director general of Iraq's Planning Ministry, Qusay Adulfattah, said the country would need some $23 billion in the short term and more than $65 billion in the medium term.Daesh controlled nearly a third of Iraq at the peak of its devastating campaign.
The seven provinces attacked by the militants suffered $46 billion in direct damage, including the destruction of 147,000 housing units, and the security forces took $14 billion in losses. These projects are largely focused on infrastructure, with rebuilding the facilities at Mosul's airport a major focus, according to Reuters.
According to the ministry official website, the spokesman underlined that Iran has had no hesitation in supporting the nation and government of Iraq as it has always stood by them in fight against terrorism and will continue to do so in the future.
Among the hardest-hit areas is Mosul, which Iraqi forces, aided by Iranian-backed Shiite militias and a USA -led coalition, recaptured in July 2017.
Nations could help by acting as guarantors with lenders, allowing Iraq to take out soft loans to fund infrastructure projects, Mahdi al-Alaq, secretary general of Iraq's Council of Ministers, told the conference.
About 2.5 million Iraqis remain displaced by the fighting, he added.
Iraq hopes to raise billions of dollars in pledges at the three-day meeting, as the country reels from the rise of IS and punishing fightback against the jihadist group.
Lise Grande, UN Humanitarian Coordinator for Iraq, warned failure to help Iraq could lead to renewed instability.
"At a time when only a few countries were participating in the reconstruction of Iraq, Iranian companies were active in building roads in the country and providing Iraqis with engineering services", he was quoted by state news agency IRNA.
However, officials acknowledge a feeling of fatigue from worldwide donors, especially after the wars in Iraq and Syria sparked the biggest mass migration since World War II.
Kuwait has opened a week of conferences seeking aid for rebuilding Iraq after the onslaught of the Islamic State group.
A US -led invasion toppled Saddam Hussein in 2003 and was followed by years of insurgency, sectarian bloodletting between Sunnis and Shias, as well as ethnic tensions between the Arabs and Kurds, all before ISIS emerged in 2014.
In an effort to help rebuild war-torn Iraq now that Daesh has been defeated in the country, the Turkish government and businesses want to assume leading roles in the redevelopment of Kirkuk, Mosul, Tal Afar, Baghdad and other cities.