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Today, Thursday, the Finance Committee in the House of Representatives announced the amount of financial resources deposited in the account of the Iraqi-Chinese agreement projects.
Committee member Mueen Al-Kazemi said, in a statement to the Iraqi News Agency (INA), that "the financial resources that have accumulated after depositing them in the account of the Chinese agreement projects, which was established under the annex to the cooperation agreement between Iraq and China, in which the revenues from exports of 100,000 barrels per day of Iraqi crude oil are deposited." The source to China amounted to three billion dollars,” noting that “these funds are allocated for the projects of the Chinese agreement.”
He added, "Through this fund, discreet and efficient Chinese companies can embark on the required infrastructure," noting that "this will help the government in the issue of investing in various projects, including the dry canal and sewage lines."
In September 2019, Iraq and China signed a multifaceted agreement at the conclusion of talks between two delegations in Beijing, where the agreement includes the exchange of oil revenues for the implementation of projects in Iraq, by opening a credit account in a Chinese bank, to deposit oil revenues amounting to 100,000 barrels per day in order to disburse them. For Chinese companies that implement projects.
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