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NIC: reconstruction of Iraq needs trillion dollar and 10 years
Monday, 25 February 2013 10:21
Shafaq
News / National Investment commission (NIC) announced on Monday, that
Iraq needs to a trillion dollars and nearly 10 years of continuous work
for the reconstruction of its infrastructure.
The chief of NIC,
Sami al-Araji, said in a statement reported for "Shafaq News", that "The
reconstruction of infrastructure in Iraq needs a large amount of money
about a trillion dollar ".
Araji said "the money is important to
reconstruct the infrastructure and it also needs time, reconstruction of
infrastructure requires approximately ten years."
He added that "NIC is working to attract investment to rebuild infrastructure, but the issue is not easy and needs time “.
The
head of NIC said that "investment budget is not enough for the
reconstruction of Iraq, or even a part of it that a citizen can feel and
that the issue of foreign investment is linked to the increasing oil
exports."
The United States and after overthrowing the previous
regime in 2003 led an international campaign for the reconstruction of
Iraq, including economic reform, implementing international projects for
the restoration and improvement of water plants and sewage, electricity
production, hospitals, schools, housing and transportation systems, as a
large part of the work has been funded from the reconstruction of Iraq
fund and the Provisional Authority Coalition.
Informed sources
revealed that the rampant corruption, insufficient funding and poor
coordination among international agencies and local parties hindered
efforts by the international community to assist in the reconstruction.
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Monday, 25 February 2013 10:21
Shafaq
News / National Investment commission (NIC) announced on Monday, that
Iraq needs to a trillion dollars and nearly 10 years of continuous work
for the reconstruction of its infrastructure.
The chief of NIC,
Sami al-Araji, said in a statement reported for "Shafaq News", that "The
reconstruction of infrastructure in Iraq needs a large amount of money
about a trillion dollar ".
Araji said "the money is important to
reconstruct the infrastructure and it also needs time, reconstruction of
infrastructure requires approximately ten years."
He added that "NIC is working to attract investment to rebuild infrastructure, but the issue is not easy and needs time “.
The
head of NIC said that "investment budget is not enough for the
reconstruction of Iraq, or even a part of it that a citizen can feel and
that the issue of foreign investment is linked to the increasing oil
exports."
The United States and after overthrowing the previous
regime in 2003 led an international campaign for the reconstruction of
Iraq, including economic reform, implementing international projects for
the restoration and improvement of water plants and sewage, electricity
production, hospitals, schools, housing and transportation systems, as a
large part of the work has been funded from the reconstruction of Iraq
fund and the Provisional Authority Coalition.
Informed sources
revealed that the rampant corruption, insufficient funding and poor
coordination among international agencies and local parties hindered
efforts by the international community to assist in the reconstruction.
[You must be registered and logged in to see this link.]
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