Saudi Arabia, Iraq to establish a $3b joint investment fund

Fund to promote investment in Iraq’s economy to benefit of both countries: statement

Last updated: April 01, 2021 | 02:48

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Saudi Arabia’s Crown Prince Mohammed bin Salman and Iraqi Prime Minister Mustafa Al-Kadhimi, visit the historical city Ad Diriyah on the outskirts of Riyadh, Saudi Arabia March 31, 2021.

Reuters

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Cairo: Saudi Arabia and Iraq have agreed to establish a joint $3 billion fund to promote investment in Iraq’s economy, Saudi state news agency (SPA) reported on Wednesday, citing a joint statement.

The joint fund will be for the “benefit of the Saudi and Iraqi economies, with the participation of the private sector from both sides,” the statement added.

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