PROJECTS: UK is funding $1.5bln projects in Iraq - govt. official

Iraqi and UK officials discuss ongoing and planned projects

  
Image used for illustrative purpose. Water tanks of at Al-buradieiah Water Treatment Plant damaged are seen on the banks of the Shatt al-Arab in Basra, Iraq September 17, 2018,

Image used for illustrative purpose. Water tanks of at Al-buradieiah Water Treatment Plant damaged are seen on the banks of the Shatt al-Arab in Basra, Iraq September 17, 2018,

REUTERS/Essam al-Sudani

The UK has provided loans and credit facilities worth $1.5 billion to Iraq for various projects,a spokesperson for the Iraqi planning ministry said.


Abdul-Zahra Al-Hindawi said planning minister Khaled Battal Al-Najm, and James Gallagher, Director of UK's Department of International Trade-Iraq, discussed current and future project opportunities for British companies in Iraq. Gallagher said his country has funded $1.5 billion worth of projects in Iraq, and is seeking new projects where British companies can participate.


Al-Hindawi said that projects funded by the UK include Dhi Qar and Samawa power plants, a water desalination project in Basra, and a sewage project in Babil (Babylon) governorate. He added that the planning ministry will prepare a list of projects within next year's budget [2022], which could potentially be financed through UK Export Finance based on development and economic priorities determined by the Ministry.


Al-Hindawi added that two MoUs would be signed with the UK, one, in the field of standardisation and quality control, and second, in the field of administrative development.

(Reporting by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021

More From Construction