SAEDNEWS: Iraq has vowed to facilitate the repayment of some $0.9 billion worth of debts to Iranian companies that were involved in various business and construction projects in the Arab country before the 2013 rise of ISIL terrorism.
According to SAEDNEWS, Iraq has announced plans to repay nearly $0.9 billion in debt to Iranian companies. These companies had worked on various business and construction projects in Iraq before the rise of the Islamic State of Iraq and the Levant (ISIL) in 2013.
Samad Hassanzadeh, Chairman of Iran’s Chamber of Commerce (ICCIMA), stated that during Iranian President Masoud Pezeshkian's recent visit to Iraq, Iraqi officials promised to address the issue of this outstanding debt. Hassanzadeh explained that both countries agreed to set up a task force to help manage the repayment process.
The debt is specifically for technical and engineering services provided by Iranian firms in Iraq before the emergence of Daesh. Iraq declared victory over Daesh in 2017 after fighting to reclaim territory from the group.
Before the rise of Daesh, Iranian companies played an important role in Iraq's rebuilding efforts, especially after the end of an eight-year US-led occupation in 2011. Many Iranian engineering and construction firms are still active in Iraq, helping the country expand its economy while maintaining strong political ties with Tehran.
President Pezeshkian’s trip to Iraq concluded on Friday, during which the two nations signed 14 agreements aimed at boosting their economic and trade relations.
