Iraq needs $88.2 billion to rebuild in wake of war against ISIS, minister says

PHOTO: Hammadi Abdullah, 32, and his family sit outside their hut in an encampment outside Baghdad, Iraq, Feb. 12, 2018. Hadi Mizban/AP
Hammadi Abdullah, 32, and his family sit outside their hut in an encampment outside Baghdad, Iraq, Feb. 12, 2018.

It will take a staggering $88.2 billion to rebuild parts of Iraq devastated by the war against ISIS, according to the country's minister of planning.

During an international donors conference in Kuwait regarding Iraq reconstruction, Salman Al-Jameeli said in a statement Tuesday that "$22.9 billion [is] needed for Iraq in the short term, [and] $65.4 billion over the medium term."

The funds would go to the vast swaths of Iraqi territories seized by ISIS during the jihadist group's brutal conquest that started in June 2014, the minister said.

PHOTO: Homeless Iraqi people push their belongings through the rubble of al-Rashid military base belonging to the former Iraqi army in Baghdad, Iraq, Feb. 12, 2018. Hadi Mizban/AP
Homeless Iraqi people push their belongings through the rubble of al-Rashid military base belonging to the former Iraqi army in Baghdad, Iraq, Feb. 12, 2018.

PHOTO: Umm Hassan holds her son as she works in her open air kitchen outside her hut in an encampment for the displaced, outside Baghdad, Iraq, Feb. 12, 2018. Hadi Mizban/AP
Umm Hassan holds her son as she works in her open air kitchen outside her hut in an encampment for the displaced, outside Baghdad, Iraq, Feb. 12, 2018.

Seven governorates across Iraq -- including Ninawa, which encompasses the county's second-largest city of Mosul -- suffered about $46 billion in total damages. In addition, Iraq's security sector sustained $14 billion in total damages, while Iraqi banks lost $10 billion in cash assets, according to the minister.

U.S. Secretary of State Rex Tillerson, who attended the donors conference, did not offer any new direct aid pledges to Iraq. But, he announced a $3 billion financial package from the Export–Import Bank of the United States, which includes loan guarantees and insurance to spur American investment in Iraq.

PHOTO: Iraq special forces conduct an operation targeting possible remaining Islamic State (IS) group jihadists in the Wadi Shabjah area, south of holy Shiite city of Najaf , on the border with Saudi Arabia, Feb. 12, 2018. Haider Hamdanihaidar/AFP/Getty Images
Iraq special forces conduct an operation targeting possible remaining Islamic State (IS) group jihadists in the Wadi Shabjah area, south of holy Shiite city of Najaf , on the border with Saudi Arabia, Feb. 12, 2018.

PHOTO: An Iraqi woman inspects the destruction in the old city district in the western part of Mosul city, Iraq, Feb. 3, 2018.Murtaja Lateef/EPA/Rex/Shutterstock
An Iraqi woman inspects the destruction in the old city district in the western part of Mosul city, Iraq, Feb. 3, 2018.

PHOTO: An Iraqi man inspects the destruction at the old city area, in the west side of Mosul city, Iraq, Feb. 2, 2018.Murtaja Lateef/EPA/REX/Shutterstock
An Iraqi man inspects the destruction at the old city area, in the west side of Mosul city, Iraq, Feb. 2, 2018.

Pictures from ISIS last stand in Mosul
SLIDESHOW: Pictures from ISIS' last stand in Mosul

Tillerson also urged members of the international coalition battling ISIS to help rebuild Iraq.

"As we celebrate these victories over extremism and hatred, we know they were hard-won, and they came at a very high price. Much work remains to rebuild Iraq and modernize its economy," Tillerson said in remarks made at the conference Tuesday. "Everyone in this room has an opportunity to help set Iraq on a new course and contribute to its long-term development success."

An official with the U.S. Department of State told ABC News the conference was "never intended to be a pledging conference, but rather the initial roll-out on behalf of the Iraqi government."

PHOTO: Civilians who had remained in west Mosul during the battle to retake the city, lined up for an aid distribution in the Mamun neighborhood in Iraq July 2017. Ivor Prickett/Reuters
Civilians who had remained in west Mosul during the battle to retake the city, lined up for an aid distribution in the Mamun neighborhood in Iraq July 2017.

PHOTO: An unidentified young boy, who was carried out of the last ISIS controlled area in the Old City by a man suspected of being a militant, that is cared for by Iraqi Special Forces soldiers in Mosul, Iraq, July 12, 2017.Ivor Prickett/NY Times/EPA/Rex/Shutterstock
An unidentified young boy, who was carried out of the last ISIS controlled area in the Old City by a man suspected of being a militant, that is cared for by Iraqi Special Forces soldiers in Mosul, Iraq, July 12, 2017.

PHOTO:
SLIDESHOW: Volunteers brave ISIS battle in Mosul to save injured civilians

In October 2016, Iraqi forces as well as Kurdish forces, known as peshmerga, launched a massive operation to liberate Mosul from ISIS control. The fight affected densely populated neighborhoods within the war-torn city and had displaced nearly 192,000 people by March 2017, according to the Geneva-based Internal Displacement Monitoring Center.

Iraqi Prime Minister Haider al-Abadi declared victory over ISIS in December 2017. By the end of the year, while 3.2 million people had returned to their homes, another 2.6 million remained displaced in Iraq, according to the United Nations migration agency.

ABC News' Conor Finnegan contributed to this report.

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