King Salman approves $1 bln grant to Iraq

Saudi Arabia’s King Salman approved $1 billion grant to Iraq for the development of the country, Saudi Press Agency reported, citing Majid Al-Qassabi, Minister of Commerce and Investment.

Iraq is also proceeding with building a sports city in Baghdad after allocating a land plot for this purpose, the report said.

“The border port of Arar between the Kingdom and Iraq will be completed within six months from now,” Al-Qassabi said.

“Saudi Arabia has opened a consulate in Baghdad and is planning three more soon in several Iraqi provinces,” he added.

A Saudi economic delegation that includes the energy and investment ministers arrived in Iraq on Wednesday for the second Saudi-Iraq coordination council meeting, an initiative launched in 2017 to upgrade diplomatic relations.