UAE announces $3b investment in Iraq

Abu Dhabi: The UAE on Sunday introduced $3 billion (Dh11 billion) funding in Iraq in a recent bid to strengthen the financial and funding relations between the 2 fraternal nations.

The brand new investments are aimed to faucet new prospects of partnerships between the 2 nations and accelerating socio-economic and developmental progress in help of the individuals of Iraq.

Inside this context, the UAE and the Republic of Iraq have issued the next joint assertion on the conclusion of the official go to of Dr. Mustafa Al Kadhimi, Prime Minister of Iraq, to the Emirates.

Following is the textual content of the assertion: “According to the fraternal relations and shut historic ties between the UAE and Iraq, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, met with Dr. Mustafa Al Kadhimi, Prime Minister of Iraq, who paid an official go to to the UAE.

The Iraqi premier thanked the UAE beneath the management of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, for its help for Iraq and its individuals.

The go to included a collection of official conferences on broadening the prospects of cooperation between the 2 nations on all fronts for his or her widespread pursuits, with the 2 sides hailing the depth and energy of their fraternal relations. They reviewed the newest regional and worldwide developments and underlined the significance of making certain worldwide cooperation within the face of the COVID-19 pandemic and containing its financial and medical fallout on the complete world.

The Iraqi prime minister thanked the UAE for its medical help, despatched to assist Iraq and its individuals face the well being disaster.

The 2 sides agreed to develop financial cooperation and speed up commerce and funding exchanges, urging their businessmen to alternate visits. In addition they agreed on establishing the Iraqi-UAE Enterprise Council and to streamline all of the measures within the service of the 2 nations and their peoples.

Inside this context, the UAE publicizes it would make investments $3 billion in Iraq. The initiative goals to solidify financial and funding ties, faucet recent prospects of cooperation, and spur developmental and socio-economic progress in Iraq.

Iraq commends the UAE’s initiative to renovate Al Hadba Minaret, Nice Mosque of Al Nuri and numerous church buildings.

The 2 sides additionally doubled down on the significance of strengthening safety and protection cooperation and intelligence sharing within the combat towards terrorism . In addition they agreed on propelling vitality cooperation, specifically within the fields of unpolluted vitality.

On the finish of his go to, the Iraqi premier thanked the UAE, management, authorities and other people, for the nice and cozy welcome and hospitality he obtained in the course of the go to.”