France FM visits Iraq to discuss reconstruction

Tillerson to address Iraq Reconstruction Conference but promise no US money

Tillerson to address Iraq Reconstruction Conference but promise no US money

Iraq declared victory over the IS group in December after capturing nearly all of the territory seized by the militants in 2014 and 2015.

According to the Kuwait Chamber of Commerce and Industry, Iraq will present at the conference next week feasibility studies for 60 key investment projects with total amount exceeding $85 billion.

Iraqi Prime Minister Haider al-Abadi previously claimed the country needed $100 billion in assistance to rebuild damaged and destroyed infrastructure in Iraq as well as its economy.

Rebuilding Iraq after three years of war with the group Islamic State in Iraq and Syria (ISIS) will cost $88.2 billion U.S., with housing a particularly urgent priority, Iraqi officials told an worldwide donors conference on Monday.

Millions of people were displaced, in particular in the Sunni north, as a result of the battles and thousands were killed.

Iraqi officials said nations could help by acting as guarantors with lenders, allowing Iraq to take out soft loans to fund projects. He said there were preliminary indications that some states would do so.

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Kuwait City:The upcoming Kuwait International Conference for the Reconstruction of Iraq (KICRI) will provide lucrative investment opportunities for participating companies, a Kuwaiti official said on Sunday.

"If the global community doesn't help the government of Iraq to stabilize these areas [devastated by the war] the gains against Daesh could be at risk", she said, using the Arabic acronym for ISIS.

"The Kuwait Conference for Iraq this week is an opportunity for world leaders to show that we are willing to invest in children - and through investing in children, that we are willing to invest in rebuilding a stable Iraq".

Baghdad has said it is determined to tackle the red tape and corruption that hamper investment.

Railways, airports, and ports construction, reconstruction, and rehabilitation are also high on Iraq's investment opportunities list, including berths for oil products exports and imports at the $6-billion project for the Grand Port of Al Faw at Basra, it added.

TigerSwan has been a licensed provider of safety and risk management services in Iraq for over 10 years and many of its employees served in Iraq as service members.

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