confirmed President Barham Saleh, said Friday that "corruption and misuse of public money" efforts to undermine the reconstruction of Iraq. 

"Iraq is planning to launch a reconstruction agency that will focus on projects such as a deep-water port and a rail network as the country seeks to overcome years of unrest," Saleh said at a conference of the Mediterranean Dialogue in Rome. 

"Iraq is also planning to work with foreign entities, including sovereign wealth funds, in a few infrastructure projects," he said, adding that corruption and misuse of public funds are problems undermining reconstruction efforts.

He pointed out that "Iraqi and foreign private sector companies as well as international financial institutions and donor countries and sovereign wealth funds will be invited to invest in these projects (infrastructure)."