Baghdad to sign 18+ agreements with the US
Shafaq News- Baghdad
Iraq will sign more than 18 partnership agreements with the United States across various sectors during Prime Minister Ali al-Zaidi's official visit to Washington, an informed source told Shafaq News on Tuesday, with several having been finalized and are ready for signature.
The agreements cover politics, the economy, industry, energy, oil, education, health, investment, and armament, according to the source, who said they would strengthen the partnership between Baghdad and Washington.
Read more: Al-Zaidi at the White House: A sustainable partnership or continued crisis management?
Iraq is seeking to establish a development fund at an American commercial bank rather than at the Federal Reserve, the source said. Preliminary indications point to the fund being financed from revenue on oil exported to the United States at a volume reaching 500,000 barrels per day, bringing its financing value to $1 trillion. The money would go toward investment and infrastructure projects, with electricity generation first among them.
The Iraqi government announced the fund last month at a lower figure. Government spokesman Haidar al-Aboudi said the Council of Ministers had approved a development fund project backed by international guarantees and contributions valued at $150 billion, intended to deliver economic stability through investment.
Trump said earlier Tuesday that a major oil partnership with Iraq will be announced next week, alongside significant commercial deals.
Al-Zaidi arrived in Washington on Monday leading a high-level delegation of ministers, senior officials, investors, and company owners on a seven-day official visit.
