Key meeting on Iraq’s reconstruction due in May

United States Agency of International Development (USAID) has allocated some $2.5 billion to finance restructuring works. The agency has advised companies willing to take part in reconstruction projects as subcontractors to contact those U.S. companies that have won major tenders.

Foreign companies, including those from Turkey, will participate in projects as subcontractors.

High-level U.S. bureaucrats and U.S. finance institutions representatives are expected to brief participants on humanitarian aid, loans and funds available for restructuring and subcontract works during the meeting that will take place on May 5.

The cost of the entire reconstruction project is estimated to be $25-100 billion. World Trade Center Ankara Director Alper Eker urged Turkish companies not to miss emerging opportunities, saying participation in reconstruction projects would mean a serious increase in the volume of trade and investments. "This will be one of the essential elements of the growth that Turkey awaits and deserves," he said.