Iraq News - Local News - Baghdadpost

Egypt, Iraq agree on oil-for-reconstruction mechanism


Egypt and Iraq have reached a preliminary consensus to establish an oil-for-reconstruction mechanism.

The two countries have signed 15 agreements, programs, and protocols in the fields of transport, water resources, health, the environment, justice, investment, housing, construction, industry, trade, and finance.

Egyptian Prime Minister Mostafa Madbouly told a meeting in Baghdad that companies would carry out development projects in return for oil.