As ISIS forces continue to diminish in Iraq, the nation is preparing to rebuild – and they now have $400 million to help them do it.
On Tuesday, the World Bank announced that they would be making the multi-million dollar contribution to help rehabilitate parts of the country that have been retaken from Islamic State militants. More specifically, the funds will be used to reconstruct infrastructure, transportation, and cultural landmarks, such as the heritage sites of Mosul’s Old City.
“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 funding will mainly be divided amongst water and sanitation, electricity, health, transport, and municipal services. However, the World Bank says that it will investigate methods in which to encourage the private sector to invest in the reconstruction of Mosul’s airport.
American and Iraqi forces finally recaptured the sacred city from ISIS occupation in May after a nine-month battle over the territory.
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