South Korea provided $ 350 million in aid for Iraq

2016/9/5 10:21

[Where - Baghdad]

South Korea offered a sum of money $ 350 million to help Iraq economically and militarily and humanly.

A statement by the Ministry of Planning, received by all of Iraq [where] a copy of the "Planning Minister Salman Jumaili received the new Korean Ambassador Song Ong- Jupp two sides discussed investment opportunities in Iraq in front of Korean companies, particularly in the field of reconstruction and stability of the liberated areas operations."

"The meeting that took place at the headquarters of the Ministry of Planning and attended by the head of the Korea Development Agency [KOICA] and a number of embassy staff discussed a number of important issues in various fields, including the benefit from the expertise and potential of Korean companies in the rehabilitation of the agricultural sector in Iraq and increase its contribution to GDP in order to reduce dependence on oil, "adding that" the Korean Ambassador expressed the readiness of the Korean government to engage strongly in the areas of reconstruction and rehabilitation of agriculture in Iraq, noting that "the agency [KOICA] ready to make a study detailed feasibility for the mechanics and timing of the development of Iraqi agriculture.

"The planning minister stressed that Iraq possesses significant investment opportunities in all areas, particularly the reconstruction and development of agriculture, calling for Korean companies to enter aggressively to take advantage of these opportunities, particularly that the Iraqis trust the potential of these companies through practical experiences, and expressed hope in the continuation and development of cooperation between the two sides and the granting of new training opportunities for the Iraqis across the agency [KOICA], "pointing out that" the Iraqi government's policy is based on openness to foreign investment and to attract them to take advantage of investment opportunities, including in the field of energy, housing, transport and agriculture as well as reconstruction. "

He Jumaili "The Ministry of Planning and through the development plans adopted by working to reduce dependence on oil through the activation of other development sectors, pointing out that" the ministry has reconsidered many of the policies and work to develop policies based on the promotion and development of developmental sectors, attracting investment and engagement with the private sector, stressing that "Iraq's economy has elements of strength and survival, we were able to overcome the economic danger, and our problem today is the financial problem, not an economic Iraq has received international support to help him overcome his ordeal as we got to give good loans that will help us to solve a lot of the problems, especially in Daesh post and edit all Iraqi territory usurped by this stage of the terrorist organization, "stressing that" the year 2016 will see the inevitable end to Daesh to go towards reconstruction after the operations of the liberated areas. "

For his part, praised the new Korean ambassador in Baghdad, Sun-yup, the statement said the efforts of the Iraqi government on security and economic levels, which yielded good results, including liberating the land and overcome the threat of economic crisis, expressed the readiness of Seoul to provide all kinds of support for Iraq in various fields, including contributing to the reconstruction of areas liberated and the development of Iraqi agriculture, revealing to submit a proposal to the Iraqi side on the development of the agriculture file to be adopted agency [KOICA] after you submit a feasibility study in this regard. "

He yup that "the government has provided about $ 350 million in aid to the Iraqi side in order to enable it to overcome the economic, security and humanitarian problems, revealed the existence of 23 Korean companies are working on the implementation of 40 projects up costing more than $ 26 billion, including the project Basmajh residential and refinery in Karbala and others. "

The statement noted that "took place during the meeting, they discussed prospects of cooperation between Iraq and Korea in the field of standardization and quality control and the possibility of working on the signing of a joint memorandum of understanding whereby the mutual recognition of the acceptance standards for both countries.