Iraq seeks German-backed fund for industrial projects

Shafaq News- Baghdad

Iraq and Germany are discussing the establishment of a joint investment fund to finance industrial development projects in Iraq, Prime Minister Ali Al-Zaidi stated on Wednesday during a phone call with German Chancellor Friedrich Merz.

According to a statement from Al-Zaidi's office, the two leaders discussed bilateral relations, with a focus on economic, trade and investment cooperation, as well as migration.

Al-Zaidi said Iraq was seeking to expand economic cooperation with Germany and encourage greater investment by German companies. He also reaffirmed his government's commitment to combating corruption and improving the country's investment climate.

Merz expressed Germany's interest in expanding cooperation with Iraq and invited Al-Zaidi to visit Germany. He also reiterated Berlin's support for Iraq's economic and financial reform efforts and said German companies were ready to invest in the country.