The technical advisor to the Iraqi Prime Minister, Mohammed Daraji, announced today, Saturday, the signing of an agreement between Iraq and Italy to finance industrial projects valued at $700 million. He also confirmed the signing of memorandums of understanding to supply Iraq with six Italian factories for the private sector.
Daraji told the Iraqi News Agency (INA) that "under the guidance of Prime Minister Mohammed Shia al-Sudani, an agreement was signed between the Supreme Committee for Sovereign Guarantees and the Italian Credito Italiano institution on behalf of the Italian government to finance industrial projects in Iraq worth $700 million." He noted that "the agreement was signed between the Iraqi Trade Bank (TBI) and two Italian banks for financing these projects."
He added that "as part of the government's initiative to support the private sector, memorandums of understanding were also signed between Iraqi businessmen and businessmen from Italian suppliers of production lines and factories to supply six factories to Iraq," explaining that "these factories include glass products, pharmaceuticals, slaughterhouses, poultry and egg farming, associated gas processing, an iron factory, and a pharmaceutical factory."
