Photo: AP / Hussein Malla
Global development treasury World Bank announced it approved $400 million in additional spending to aid in the recovery of services in Iraqi regions liberated from Islamic State militants after a three-year military campaign, according to Reuters.
In addition, the World Bank said it would support studies into how to incorporate the private sector in the restoration of Mosul’s airport and rebuilding transport terminals as well as parts of the railway network.
“The package represents an additional financing to the Iraq Emergency Operation for Development Project ($350 million) approved back in July 2015 and already underway in seven cities in Diyala and Salah Ad-Din governorates,” the World Bank said in a statement.
The global bank said the additional spending would focus on reconstructing five sectors — water and sanitation, electricity, health, transport and municipal services. The spending will aid in the restoration and preservation of cultural heritage locations in Mosul’s Old City which suffered immense damage from the conflict, the report said.
After nine months of urban warfare, Iraqi government soldiers — supported by a U.S.-led coalition — reclaimed Mosul in May which was by far the largest city to come under jurisdiction of the terror group, the report said.
Iraqi government authorities predict it will take at least five years and billions of dollars to fully restore Mosul, according to Reuters.
— WN.com, Jubilee Baez
