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Iran Ready to Pledge $3b for Iraq’s Reconstruction

Iran is ready to allocate a credit line amounting to $3 billion to Iraq for rebuilding the war-ravaged areas of the neighboring country
Iran’s First Vice President Es’haq Jahangiri (L) shakes hands with Iraqi President Fuad Masum in Baghdad on March 8.Iran’s First Vice President Es’haq Jahangiri (L) shakes hands with Iraqi President Fuad Masum in Baghdad on March 8.
The credit line will be given so that “Iranian companies and its private sector can have a more serious cooperation in rebuilding Iraq”

Iran is ready to allocate a credit line amounting to $3 billion to Iraq for rebuilding the war-ravaged areas of the neighboring country, Iran's first vice president has announced.
In a meeting with Iraqi officials on Wednesday, Es'haq Jahangiri was also quoted as saying by IBENA that the credit line will be given so that "Iranian companies and its private sector can have a more serious cooperation in rebuilding Iraq."
Jahangiri arrived in Baghdad on Wednesday to join an Iranian business delegation led by Minister of Industries, Mining and Trade Mohammad Shariatmadari. 
In early February, the chief executive of Export Development Bank of Iran had announced that his bank will soon open a credit line worth $18 million with an Iraqi bank with the aim of expanding Iran's exports to the Arab country.
"If other Iraqi banks meet the capital adequacy ratio, we are ready to allocate more lines of credit to that country," Ali Salehabadi had said at the time.

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