Iraq signs for EU15 million finance agreement with European Union

Baghdad ( Iraq and the European Union signed on Wednesday a financing agreement worth more than EU15 million, the European commission has announced.

It said Iraqi planning minister Salman al-Jumaili signed the agreement with EU representatives. It said the EU15.6 finances are meant for the eobmldemnet of auditory institutions, and is complementary to the World Bank program for Iraq that is worth EU41.5 million, which was launched in 2017.

The commission pointed that the agreement is designed to ensure the best use of donations.

Iraq had signed a EU60.4 million agreement late 2017 for the reconstruction of areas recaptured from Islamic State militants.

In February, Iraq announced it collected nearly USD30 billion from donors at the end of a conference for Iraq’s reconstruction that was held in Kuwait.

Iraq struggles to revamp its economy and rehabilitate infrastructure affected by the war against IS that lasted from 2014 to late last year.


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