By Azania Post Reporter
RECONSTRUCTION of Iraq would take longer than anticipated because donors have managed to dish out only half of the needed amount, it has learnt.
Up to the moment, donors have pledged to donate only USD 30 billion out of needed USD 88 billion which would make it restructure its economy.
Anadolu news quoted the Kuwait Deputy Prime Minister Sheikh Sabah Khaled Al Sabah as saying participant countries in Kuwait International Conference on Reconstruction of Iraq (KICRI) has promised such amount of money to the Iraqi.
He said the amount came from 76 participating countries, along with 51 international development funds, 107 local and international NGOs, in addition to 1,850 representatives from the private sector.
On his part, Iraqi Foreign Minister Ibrahim Al-Jaafari told reports that the number of contributions announced at the conference, including investments and grants, do not meet all the needs for Iraq, but they were not small, adding that they will continue to seek investment, which is an important economic factor to overcome Iraqi ordeal.
Iraqi Planning Minister Salman Al Jumaili earlier this week said that reconstruction in Iraq requires 88.2 billion U.S. dollars.
According to information provided at the conference by the minister, the total damage in Iraq by anti-IS military operations amounted to 45.7 billion dollars, the most affected sectors in this country by the war against IS include housing sector, power, industry and commerce, oil and gas and transport.