Iran proposes $ 3 billion credit line to Iraq


“Iran and Iraq need a comprehensive document to form the basis for economic cooperation between the two sides,” said Iran’s First Vice-President Yitzhak Jahangiri, declaring Iran’s willingness to set up a $ 3 billion line of credit at the disposal of Iraq.
This came during talks between Jahangiri and Iraqi Prime Minister Haider al-Abadi on Wednesday.
Jahangiri announced Iran’s readiness to involve Iranian companies in the reconstruction and construction process in Iraq and to allocate a $ 3 billion credit line to Iraq so that Iranian companies and the private sector can participate seriously in the reconstruction process.
Jahangiri considered the banking issues as one of the most important obstacles to the economic relations between the two countries, calling for finding suitable solutions for them. He also called for free trade between the two countries in order to promote inter-economic exchanges.
Jahangiri stressed the need for rail links between the two countries, pointing out that this is needed to bridge the bridge and plans for 30 kilometers. In this case Iraq will connect with Central Asia and China, while Iran’s rail line will extend to the Mediterranean Sea.
He declared Iran’s readiness to cooperate in the field of drug manufacture and to increase its cooperation with Iraq in various fields, including oil and gas.

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