Report .. The Oil for Reconstruction Program .. Will it Succeed in Reconstructing Iraq?

Egypt and Iraq signed 15 memoranda of understanding and a cooperative program on Saturday. This comes within the framework of the consensus to work within the oil-for-reconstruction program, as Egyptian companies will implement, through the agreed program, a set of projects according to the Iraqi government's desire, and a form for this mechanism will be established and a future development and investment partnership will begin.

What are the most important projects that the Egyptian side will undertake in Iraq?
Economic expert, Saleh Al-Hamashi, says, “Iraq is experiencing a financial crisis, and it is trying to play the oil card, in light of Egypt's need for this material. Iraq cannot pay money for projects because of its financial situation, and Egypt is in great need of energy, as it will benefit from the decline The price of oil that Iraq will sell to her.

Al-Hamashi said, "These investments suffer from the deteriorating reality of Iraqi work, which impedes the work of companies due to its financial and administrative system and the existing corruption, but Iraq is always seeking to conclude these agreements."

He added, "These agreements will see the light, because of the economic problems facing Egypt and the world, where population growth and employment increases. Egypt will focus on its investments on energy and housing, that is, government investments that will be guaranteed by the Iraqi state."

https://iraqakhbar.com/2736413