Iraq needs $88.2 billion to rebuild after three years of war against the Islamic State group, Planning Minister Salman al-Jumaili said Monday at an international conference on the country's reconstruction in Kuwait.

The estimate was based on an assessment study by Iraqi and international experts, the minister told the opening session of the three-day conference.

Qusai Abdelfattah, director general at the planning ministry, said $22 billion of those funds were needed immediately and the rest for the medium term.