UAE says it is investing $3 billion in Iraq

Sheikh Mohamed bin Zayed al-Nahyan (R), Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, receiving Iraq's Prime Minister Mustafa al-Kadhemi. Credit: AFP Photo

The United Arab Emirates will invest $3 billion in Iraq, it said in a joint statement at the end of Iraqi Prime Minister Mustafa al-Kadhimi's visit to UAE, state news agency (WAM) reported.

"UAE announced its investment of three billion dollars in Iraq. The initiative aims to strengthen economic and investment relations, create new opportunities for cooperation and partnership, and advance economic, social, and developmental growth in support of the brotherly Iraqi people," the statement said, according to WAM.