KuwaitOther News

Iraq favors deferred-payment initiatives as sustainable help

Maliki: Executing projects better than financial grants to Iraq

BAGHDAD: Kuwait Times Editor-in-Chief Abd Al-Rahman Al-Alyan meets Iraqi Vice President Nouri Al-Maliki on Tuesday. During a meeting with a Kuwaiti media delegation, Maliki hoped a planned Iraqi reconstruction conference in Kuwait will yield tangible outcomes. – Photo by Mustafa Al-Bader

BAGHDAD: Iraqi Vice President Nouri Al-Maliki has expressed hope that the planned Iraqi reconstruction conference in Kuwait will yield tangible outcomes, namely accords on enterprises of delayed payment. The vice president, during a meeting with a Kuwaiti media delegation on Tuesday, hoped that action during the conference would not be restricted to raising donations for Iraq.

Instead, Maliki wished it will witness accords on rebuilding bridges, hospitals, factories and other sectors with delayed payment or cash according to specific timetable. Executing projects in Iraq and making deals with government guarantees is better than giving financial grants to the nation, he said, also pointing out that his proposed mechanism would be useful for investors and helpful for speeding up Iraq’s reconstruction.

Iraq is a wealthy country and oil prices have been improving gradually, so it will be able to pay debts to the creditors, he added. Maliki indicated that he had previously proposed this mechanism for reconstruction and that the value of late-payment enterprises has been estimated at $77 billion, to be paid in installments over 10 years.

Citing a concrete successful example, he says that Japan has offered $780 million to Iraq through ventures, which it has been executing, with pledges Baghdad pays the costs later. He praised HH the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah for hosting the international convention for rebuilding Iraq, hoping that this effort will contribute to cementing the ties between the two brotherly peoples at various levels. The conference’s success is necessary because this means undermining plots by the so-called Islamic State, Al-Qaeda and sectarianism advocates.

Vice President Maliki lauded His Highness the Amir for his efforts to resolve crises and problems between the two countries. “We are seeking to close all doors leading to discord and elevating bilateral relations through mutual visits,” he said. – KUNA

Back to top button