CAIRO – Iraq is due to present a 10-year reconstruction plan worth $100 billion at an upcoming international donor conference in Kuwait following the country’s complete liberation from the Islamic State terror organization, 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 Feb. 12-14 in cooperation with the United Nations, the European Union and the World Bank.