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Honking Horns Hail the Liberation of Mosul From Islamic State

  • 10-year plan to rebuild Mosul in place, Iraqi official says
  • Cost of reconstructing areas under IS as much as $100 billion
Bloomberg business news

Iraq Proclaims Mosul Liberated

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Soldiers cleared explosives from Mosul’s historic quarter after its liberation all but ended Islamic State’s presence in Iraq, three years of occupation that left a trail of human misery and devastation that could cost $100 billion to rebuild.

Power and water supplies will be restored in the first phase of a 10-year program to rebuild Mosul, much of which was reduced to rubble during nine months of fighting, Planning Ministry spokesman Abdul Zahra Al-Hindawi said by phone on Monday. But in a sign of the immense challenges ahead, he estimated that reconstructing all areas of Iraq that fell to Islamic State would cost at least $50 billion, and maybe double that amount. Iraq wants to hold a donor conference in Kuwait by early next year.