The Iraqi government estimates that it will cost $88 billion to rebuild the country from the devastation caused by the war with ISIS. Yet at a donor conference in Kuwait last week, only $30 billion was pledged. The money will come mainly from Kuwait, Turkey and Saudi Arabia in the form of grants, loans and investment promises.
The U.S. stated in advance that the U.S. would not be pledging funds at the conference. The State Department noted that since 2014, the U.S. had given Iraq $1.7 billion in humanitarian aid and $6 billion in economic and security assistance.
In a speech to the conference, Secretary of State Rex Tillerson called on other countries to take on such commitments, saying, “Everyone in this room has an opportunity to help set Iraq on a new course and contribute to its long-term development.”
Iraq claimed victory over ISIS in December, saying they had recaptured all the territory ISIS occupied during the war. ISIS still controls pockets of territory in Syria.