Breaking News

Iraqi PM agreed on Saudi, UAE investment projects in Iraq, with value exceeding $6 billion: agency

By Reuters Staff

1 Min Read

FILE PHOTO: Iraq’s Prime Minister Mustafa al-Kadhimi looks on as he wears a face mask at the central station gas processing plant at Rumaila oilfield in Basra, Iraq, November 5, 2020. REUTERS/Essam Al-Sudani

CAIRO (Reuters) – Iraq’s prime minister agreed with Saudi Arabia and the United Arab Emirates on investment projects in Iraq, worth more than $6 billion, Iraq state news agency said on Tuesday.

Prime minister Mustafa al-Kadhimi visited Saudi Arabia last week and the UAE on Sunday. Saudi Arabia and Iraq agreed to establish a joint fund, with an estimated capital of $3 billion, as a contribution from the kingdom in promoting investment in Iraq’s economic fields, Saudi state news agency (SPA) reported on Wednesday.

Reporting By Ahmed Tolba and Nayera Abdullah, Editing by Chizu Nomiyama

Leave a Reply

Your email address will not be published. Required fields are marked *