EU: directed to provide a grant worth $51 million for development projects in Iraq

Baghdad-INA  
The European Union Ambassador to Iraq, Thomas Seiler, confirmed today, Wednesday, that Iraq is taking the right steps towards construction by attracting foreign investments, and while he described the Singapore agreement that Iraq signed last June as a “puzzle stone” that will improve investment, he revealed his intention to provide a grant worth $51 million for development projects in Iraq.
 
Seiler told the Iraqi News Agency (INA): that “Iraq is proceeding with the path of reconstruction and construction with correct and good steps,” noting that “signing agreements such as the Singapore Mediation Agreement is like the stone that was required in the puzzle.”
 
Regarding the importance of this agreement, he explained that “if there is a dispute that breaks out between two Iraqi parties and an international party or a foreign investor, this agreement will facilitate dealings and provide a solution to disputes, and it will also facilitate the process of international and regional trade.”
 
Regarding the role of the European Union in Iraq, especially the investment and development sector, Seiler pointed out that “the European Union provides support in many ways, including provide counseling on the policies followed by the state on the path to development, development and reconstruction, as well as providing grants and financing development programs and building capabilities for concerned parties in Iraq so that they can take control and put things in the right direction."
 
He added, "Another task is to support Iraq through joint work with all relevant actors, whether legislative, executive, or even judicial authorities," noting, "We have provided approximately $240 million in grants in various activities, and in the next stage we plan to provide a grant worth $51 million, but we still in the discussion stage about the nature of the projects to which we will allocate this money, but it will mostly be provided to development projects and works.”