Iraq to Repay $0.9 Billion Debt to Iranian Companies

Tuesday, September 17, 2024  Read time1 min

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.

Iraq to Repay $0.9 Billion Debt to Iranian Companies

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.


Latest news  
Sky Corridor: An Architectural Engineering Marvel – A Suspended Glass Bridge with Stunning Waterfall Views. Want to experience the most breathtaking high-altitude thrill? +Video Masterful Innovation at the Shanghai Auto Show: Chery’s Newest Ultra-Luxury, Fully Equipped Model – Live Your Dream with This Car! +Video Israeli Army: The fighting continues, and no ceasefire has been declared—for now. Step into the Qajar Era: Parade at ‘Naqsh-e Jahan’ and Naser al-Din Shah’s Grand Development Projects! Amazing Discovery: A 1,000-Year-Old Treasure Unearthed by a Lucky Family in Their Backyard + Photos Amazing Discovery of a Cave Full of Antiques and Valuable Treasures in Iran – Seeing Them Will Blow Your Mind! +Photos A 20-Year-Old Girl with a Rare Condition Who Has No Bones in Her Body! + Astonishing Photos Araghchi: Iran is Determined to Safeguard Its Nuclear Rights. Heavy Israeli strikes on Gaza continue, despite Tel Aviv’s claims of scaling back operations. Trump Blocks the Way: World Cup Visas Hit with New Restrictions! Iran’s Fearsome Weapon That Has Left Enemies Stunned! The Whole World Races to Build It… Netanyahu: “None of The Plan’s Provisions Will be Implemented Until All Hostages Are Freed! Will Russia and China Abandon Iran in the Next Iran-Israel War? What Happens If Iran Fires 400 Missiles in the First 24 Hours… Trump: The First Phase of the Gaza Agreement Is On the Verge of Being Finalized. Who Is the Israeli Woman Behind Reza Pahlavi? / Mossad’s Secret Operation for Reza Pahlavi’s Coronation!