Kuwait seeks to transfer Iraqi compensation to projects and investments

Kuwait is considering transferring Iraqi compensation to joint projects and investments between the two countries.

Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khalid told the newspaper “Al-Rai” that “the meetings between the Kuwaiti and Iraqi sides on the issue of compensation settlement is still ongoing,” pointing out that “these meetings looking at the possibility of collecting these compensation or transfer of projects and joint investments between Two countries. ”

The reports that the possibility of announcing Kuwait during the International Conference on Iraq Reconstruction, scheduled to be held between February 12 and 14, on the settlement of Kuwaiti compensation assessed on the Republic of Iraq by converting them into investment projects.

“Kuwait expects at least 1,000 companies and businessmen to participate in the Kuwait International Conference for the Reconstruction of Iraq,” said Deputy Foreign Minister Khalid Al Jarallah. “There is a wide participation of businessmen, companies and governments in this conference. Implemented by the private sector and governments in Iraq for reconstruction. ”

With regard to the program of work of the conference, Al-Jarallah said that February 12 will be allocated to the community institutions, while the second day will be devoted entirely to the private sector, with the final day of the conference to announce the financial contributions of the participating countries.

The conference will be held with the participation of a number of donor countries and international and regional organizations, and will be headed by five parties – Kuwait, Iraq, the European Union, the United Nations and the World Bank.

Source: Iraq’s Economic Center

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