Iraq's $100bn Reconstruction Drive

By John Lee.

Prime Minister Haider al-Abadi has said Iraq needs up to $100 billion to fix crumbling infrastructure, according to a report from Reuters.

Calling on foreign investors to help it rebuild the country following the defeat of the Islamic State group (IS, ISIS, ISIL, Daesh, he told the World Economic Forum (WEF) in Davos, Switzerland:

“It’s a huge amount of money. We know we cannot provide it through our own budget.”

Iraq has just announced a list of 157 large- and medium-sized projects to be presented during the Kuwait International Conference for Iraq Reconstruction, to be held in Kuwait from 12th to 14th February.

(Source: Reuters)

5 Responses to Iraq's $100bn Reconstruction Drive

  1. Michael Haney 1st February 2018 at 14:42 #

    I hope nobody gives Iraq a dime until they pass their 2018 budget and print it in the Gazette.

    No investor should feel their investment would be a safe bet otherwise

    Also, pass the HCL and put it the Gazette too.

  2. Michael Haney 1st February 2018 at 14:46 #

    Who would take Iraq seriously when the CBI and UST keep dragging their feet in getting their currency off the program rate

  3. paul 1st February 2018 at 19:40 #

    Michael, Don't believe what the so-called Guru know it alls are pumping! They have no more intel than you and I can find on the net ourselves! Oil for food program rate has ended chapter seven has ended. They are now back to being a sovereign nation no other country is pushing them around. Or the UST, IMF, WB, Secret bank back screens are total BS! There is no so-called lower denomination coming out! There's one guy out there claiming he has a contact in the CBI! No one working for the CBI would risk that they sign an NDA imagine being sued by the central bank of Iraq. I was right when I said as soon as ISIS was defeated the begging bowl would come out again after the IMF loans. This new request is not asking for cash! imagine what adding $100 billion dollars would do to the current value of the dinar they are asking for project investment. So begging bowl is a bit harsh on my part just my way of saying WTF they made six billion in December from oil sales. And that's all profit no food for oil exchange! January will be higher so on and so on. Forget all the fake guru BS You will know the day it happens in the world's press! Anything other than that is just speculation, not fact or fake insider knowledge.

  4. Michael Haney 1st February 2018 at 19:46 #

    I don't believe all that hyperbole from the so-called gurus. But I do believe the parliament needs to pass and fund the 2018 budget. I do believe they need to pass and implement HCL and I do believe they need to settle up with the Kurds and enact notional reconciliation.

  5. paul 12th February 2018 at 23:31 #

    If they raise the one hundred billion at the investment conference that has to go in the budget as income. The country will keep running budget or not! It's not like they haven't skipped one or two in the past.
    The HLC deal has been settled! Kurds used to get 17% Now the get 12% punishment for breaking the constitution holding a referendum to separate from Iraq. From now on it's, behave or be annexed and be called little Bagdad! The kurds never actually broke away so I don't see a reconciliation deal coming anytime soon. That's my take on what's going on,
    Kuwait took Bagdads deal concessions on investment deals in exchange for war reparations. And I'm sure they'll take full advantage of that at the investment conference.