Saudi Arabia announces US$ 1 bn grant to Iraq to boost its infrastructure

Posted on 4th April 2019

Saudi Arabia announces US$ 1 bn grant to Iraq to boost its infrastructure
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According to *Tradearabia news report, Saudi Arabia has announced a $1-billion grant to Iraq for boosting the country's infrastructure through major projects such as the Arar border port between the Kingdom and Iraq and the construction of a sports city, reported SPA citing a senior minister.

"The new sports city is a gift from Saudi King Salman bin Abdulaziz Al Saud, to the people of Iraq," remarked Commerce and Investment Minister Dr Majid bin Abdullah Al Qasabi.

The land for the project has already been allocated and the work is likey to start soon.

The grant is part of Saudi plan to contribute to Iraq's development and be its key partner in the country's renaissance, stated Al Qasabi, who is heading the Saudi delegation.

He was speaking at the meetings of the second session of the Saudi-Iraqi Coordination Council.

On the port project, the minister said that Arar border port project will be completed within six months.

*News source: http://tradearabia.com/news/CONS_353089.html

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