The World Bank approved an additional funding of $400 million to help rebuild newly liberated Iraqi areas following a three-year military campaign.
In addition to the approval of the $400 million, the World Bank also announced that it would fund studies to find out how to involve the private sector to help with the reconstruction of Mosul’s airport and public transport.
“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 new funding is meant to focus on five key sectors: water and sanitation, electricity, health, transport, and municipal services. It also intends to help to restore and preserve the country’s cultural heritage on heavily damaged sites such as Mosul’s Old City.
The government estimates that the reconstruction of Mosul will take at least five years and will cost billions of dollars.
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