Kadhimi visit: Saudi Arabia and Iraq established a common $3 billion fund
According to a common statement, Saudi Arabia and Iraq are preparing to create a common fund, with capital valued at $3 billion, as a contribution from the kingdom to enhance investment in Iraq’s economic fields.
The statement also stated that the joint fund would be for the benefit of the Saudi Arabian and Iraqi economies, with the participation of the private sector from both sides.
Indeed, Saudi Arabia’s Crown Prince Mohammed ben Salman and Iraq’s Prime Minister Mustafa al-Kadhimi held discussions in Riyadh to talk about bilateral ties between the two countries.
The Iraqi Prime Minister arrived earlier on Wednesday in the Kingdom’s capital city and was received at King Khalid International Airport by the Crown Prince.
According to a common statement carried by the Saudi Press Agency, Saudi Arabia and Iraq also decided on Wednesday to pursuit cooperation within OPEC and with complete commitment to the requirements of the OPEC+ deal.
Moreover, the two leaders also supervised the singing of three other Memorandums of Understandings (MoUs), including one about the achievement of an electrical interconnection project, promoting coordination in shared support within the framework of multilateral diplomacy, while another Memorandum about promoting investment opportunities for Saudi companies and appealing them to increase their activities in Iraq and in many fields and in the reconstruction efforts.
