Saudi Arabia, Iraq to establish a $3bln joint fund -joint statement

The joint fund will be for the benefit of the Saudi and Iraqi economies

  
Saudi Arabia's Crown Prince Mohammed bin Salman meets with Iraqi Prime Minister Mustafa Al-Kadhimi, in Riyadh, Saudi Arabia March 31, 2021. Saudi Press Agency/Handout via REUTERS

Saudi Arabia's Crown Prince Mohammed bin Salman meets with Iraqi Prime Minister Mustafa Al-Kadhimi, in Riyadh, Saudi Arabia March 31, 2021. Saudi Press Agency/Handout via REUTERS

CAIRO: Saudi Arabia and Iraq agreed to establish a joint fund, with an estimated capital of $3 billion dollars, as a contribution from the kingdom in promoting investment in Iraq's economic fields, 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

(Reporting by Omar Fahmy, Writing by Nayera Abdallah, Editing by Chris Reese) ((Nayera.Abdallah@thomsonreuters.com;))

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