The Washington-based World Bank, along with other international development banks, will play a prominent role in the reconstruction of the liberated provinces of Iraq, according to Sabah al-Khaled al-Hamad al-Sabah, Kuwait’s deputy prime minister and minister of foreign affairs.

Speaking at the inauguration of the Kuwait International Conference on the Reconstruction of Iraq on 11 February, he said: “We, along with a coalition of brotherly countries, international partners such as the World Bank, civil societies and non-government organisations, have come together … to stand by Iraq. We are sending a message to the international community on our keenness to rebuild the liberated regions.”

Other development banks or funds that have been supporting ongoing reconstruction projects in Iraq include Tokyo-based Japan International Cooperation Agency, Paris-based Agence Francaise de Developpement, the Arab Fund for Economic and Social Development and the Kuwait Fund for Development.

It is unclear if these development funds will pledge additional funding for new projects in Iraq.

It is expected that the policies for the disbursement of funds, among other regulations, will be discussed over the next two days.

MEED understands Iraq’s National Investment Commission has submitted close to 60 projects across the energy, power, water, transport and housing sectors, requiring an estimated investment of $85bn.

The government executive said they anticipate victory across all territories of Iraq against Isis.