The EU has announced an additional €30 million in humanitarian assistance. Another €20 million in development funding will contribute to the reconstruction of the country’s cultural heritage, as well as the creation of jobs and opportunities for vulnerable youth.

The announcement was made by Commissioner for Humanitarian Aid and Crisis Management Christos Stylianides (pictured), on the occasion of his sixth visit to Iraq today.

Commissioner Stylianides said:

Each time I visit Iraq, I see the hope of its people despite the challenging circumstances. At this critical moment for the country, our new funding reaffirms the EU’s commitment to stand in solidarity with all Iraqis and will help the most vulnerable.”

Commissioner for International Cooperation and Development Neven Mimica added:

The EU is committed to the reconstruction of Iraq. With today’s new support, we will help to restore the rich cultural heritage of Mosul and Basrah, and at the same time create much needed jobs and opportunities.”

Whilst in Iraq, Commissioner Stylianides, alongside Belgian Deputy Prime Minister Alexander De Croo, visited Mosul, where schools and hospitals are being supported by EU funding to help the most vulnerable get access to essential services. In Erbil, the Commissioner visited camps hosting thousands displaced by conflict. In Baghdad, the Commissioner held meetings with the Iraqi authorities.

Humanitarian assistance: The new EU humanitarian assistance worth €30 million will include protection, emergency healthcare, basic shelter, food, safe water, sanitation and hygiene to those in the greatest need throughout the country. These include Iraqis who remain displaced and Syrian refugees in Iraq. It will provide mental health support, increasing services for survivors of sexual violence, and ensuring physical therapy and rehabilitation to war-wounded. Furthermore, the EU will support the resumption of basic public services including health, education, and water supply in war-affected areas, such as Mosul, western Anbar and Hawija.

Development cooperation: The €20 million development cooperation will provide tailored technical and vocation training opportunities for youth in the construction sector, to help to recover the historic urban landscape of Mosul and Basrah. In addition, it will provide small grants to Small and Medium Enterprises and associations, with a focus on the revival of socio-economic and cultural activities. This funding, to be signed on 21 February, is part of the flagship initiative ‘Revive the Spirit of Mosul’ run by UNESCO, and designed to foster social cohesion and promote peace. With the full support of the Government of Iraq, the initiative will focus the restoration and rehabilitation of cultural heritage, as well as the revival of educational and cultural institutions. This measure is part of the EU’s pledge at the Iraq Reconstruction Conference held in Kuwait in February 2018.

Today’s funding announcement brings total EU humanitarian assistance to Iraq to €420 million and development cooperation to €309 million since the beginning of the crisis in 2015.

(Source: EU)

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

Economic treaty between Iraq, Jordan stirs Iraqis’ discontent

Iraqi Prime Minister Adel Abdul Mahdi and his Jordanian counterpart, Omar al-Razza, signed 14 economic agreements Feb. 2 between the two countries, during their meetings on the Iraqi-Jordan border, where a joint industrial city will be established.

The agreements include the transport, trade, health, agriculture, finance and energy sectors.

The recent economic agreements between the Iraqi and Jordanian governments have raised controversy in Iraq, as some Iraqi political and economic institutions believe these understandings favor Jordan and harm Iraq. The Asaib Ahl al-Haq (League of the Righteous), headed by Qais Khazali, said “the Iraqi citizens will pay the tax of these agreements.”

Click here to read the full story.

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

Riyadh woos Iraqis with security talks, economic projects

Falih al-Fayadh, head of the Popular Mobilization Units and Iraq’s national security adviser, visited Saudi Arabia Jan. 31 in a sign of the new and improved ties between the two countries.

As Fayadh is close to Iran and widely viewed as a pro-Iran candidate for interior minister in the government of Prime Minister Adel Abdul Mahdi, his visit aimed to reassure Riyadh that the PMU will target neither it nor its interests in Iraq.

A few days before Fayadh’s visit to Saudi Arabia, Riyadh renewed its support for Baghdad, especially in terms of security, in a Jan. 24 phone call between Saudi Crown Prince Mohammed bin Salman and Abdul Mahdi.

In light of the tension prevailing over the region, the phone call emphasized Riyadh’s desire to make up for the past and create a positive relationship with Iraq.

Click here to read the full story.

By John Lee.

Shell has reportedly announced that the Basrah Gas Company (BGC) has taken a “final investment decision (FID)” on its growth programme, which will increase BGC’s capacity by 40 percent.

According to Oil and Gas Middle East, the decision was taken with the support of all BGC’s shareholders: South Gas Company (SOC), Shell and Mitsubishi.

BGC captures flared gas from the Rumaila, West Qurna 1 and Zubair oilfields, converting it into dry gas for power generation and liquids for the domestic market and for exports.

At the heart of the new development is the Basrah Natural Gas Liquids (Basrah NGL) project; a 400 million standard cubic feet per day greenfield gas processing plant at Ar Ratawi.

More here.

(Source: Oil and Gas Middle East)

Justice announces the publication of the budget of 2019 Iraqi newspaper facts

The Ministry of Justice announced on Monday the issuance of the new issue of the Iraqi Gazette No. (4529) on the Federal Budget Law No. 1 of 2019 approved by the House of Representatives and approved by the President of the Republic.

The Director General of the Iraqi Facts Department Kamel Amin Hashim said in a statement received by Alsumaria News, a copy of it, "the budget law to ensure the transfer of money from some ministries to the liberated provinces and the province of Basra and detailed sentences in terms of spending, investment and loans,"

noting that "the law included the request of the Council The Ministry of Electricity, as well as continuing to grant staff five-year leave and the introduction of grades for the popular mobilization and tribal mobilization. "

"The number also includes the law banning the importation of food products, as well as agricultural products that have a similar local product, according to the agricultural calendar," he added.

The Iraqi fact sheet included the details of the budget and its adjustments for the current year 2019.…D9%8A%D8%A9/ar

Economist: Kurdistan region is the only beneficiary of the budget

Tai said in a statement to "Bourne" The Kurdistan region is the only beneficiary of the 2019 budget due to make a lot of concessions on the part of the federal government , notably overlooked payment of the province of Baghdad earlier dues amounted to $ 32 billion. "

He added that" the current year ‘s budget does not meet the ambitious province Basra and the provinces that suffer from poverty and acute shortage of services. "

Central Bank of the country: the process of development of government banks collide with the budget and allocations

The Director of the Central Bank in Basra Qasim Rahif, said Wednesday, that the process of developing and qualifying government banks to provide banking services to customers better collides with the budget and financial allocations.

Rahif said in his interview with the Murad that the process of development in terms of buildings, furniture and appliances is due to the conditions of the budget, and they are affected by the full impact of the economic situation of the country, unlike the civil banks that operate with specialized budgets.

He pointed out that the Central Bank has initiatives to rehabilitate government banks such as Al-Rashid and Rafidain to keep pace with current banking services, but these initiatives are still not implemented and the development process requires the approval and procedures of the Ministry of Finance in this regard.

By John Lee.

Oil Minister Thamir A. Al-Ghadhban met Eni’s CEO Claudio Descalzi on Monday in Baghdad.

Eni’s CEO outlined the Company’s current activities in the country in light of the recent achievements of the Zubair field development. Mr. Al-Ghadhban and Mr. Descalzi also discussed future opportunities and development investments that will further strengthen Eni’s relationship with the country.

At Zubair oil production has grown by over 100% since 2015 and a new 380 MW plant that will generate power for domestic consumption is in the final stages of construction.

Mr. Al-Ghadhban and Mr. Descalzi also discussed future opportunities and development investments that will further strengthen Eni’s relationship with the country. The Deputy Prime Minister for Energy Affair and Eni’s CEO also discussed the progress of social projects that are currently underway in the Basra Governorate in the areas of healthcare, education, access to energy and clean drinking water.

Finally, Eni’s CEO also highlighted potential synergies related to energy projects in Iraq, a strategic lever for the Country in maximizing its use of national natural resources.

Eni is one of the largest international upstream oil & gas players in the country, where it currently operates 475,000 barrels of oil equivalent per day (35,000 boed Eni equity).

Eni has been present in Iraq since 2009 through its subsidiary Eni Iraq B.V., and with the ramp up of the Zubair Field Development Project (Eni 41.56%, Kogas 23.75%, BOC 29.69%, State Partner 5%) the Company has become one of Iraq’s main operators in the oil sector.

(Source: Eni)

Sileman presents three points for success in Iraq


issued a former US ambassador to Iraq , Douglas Silliman , on Tuesday, a statement on ending his tenure in Iraq, while a three – point display to achieve success in the country.

"I have had the honor and the gratitude to serve as US ambassador to Iraq in the last two and a half years, as well as for our efforts to strengthen the economic, security and cultural relations between our two countries," Sulliman said in a statement.

"The United States and our diplomatic missions in Baghdad Erbil strongly supports Iraq’s unity, sovereignty, democracy and prosperity, and the Kurdistan region is stable and effective as part of the Iraqi state . "

"I will leave Iraq with beautiful memories of many of the areas I visited in Iraq. My wife and I were inspired by the diversity of this country and we were touched by the warmth and generosity of its people.

We walked among the date groves in Basra and walked among the remains of Ibrahim’s house in Ur. Nasiriyah , "referring to " we have seen the return of the life of the southern marshes in the beautiful Chabaish and stood at the feet of a lion of Babylon,

and I visited Fallujah Teaching Hospital, which has been restored with US assistance and spoke with the brave fighters of the anti – terrorism in the treatment and rehabilitation of veterans injured in the b Center Dad. "

"The kebabs have been tasted in the markets of Arbil and I have spoken at the American University of Iraq – Sulaymaniyah and visited the Nahum Shrine in Qush.

I will always cherish the experiences and friendships that emerged from the recognition of this vast and beautiful country," he said, noting that "Iraq has made progress over the last two and a half years Although it is difficult to see that progress in the midst of the noise of politics. "

"When I arrived in Iraq as ambassador at the end of the summer of 2016, he was an existential threat to Iraq and the entire region.

At a time when the Iraqi security forces were ready to make heroic efforts to restore Mosul, after a number of fierce battles and the loss of many brave Iraqis, The Iraqi forces and in partnership with the International Alliance led by the United States to liberate Mosul and the expulsion of elements urging them,

"explaining that" the fighting has not yet ended, based on the request of the Iraqi government and in full cooperation with Baghdad, there are still more than 5000 US soldiers continue to work in partnership with the security forces Iraqis in their bases to provide advice, training and equipping them to ensure the permanent defeat of Da’ash and defend the borders of Iraq. "

"The coalition of 74 countries and five international organizations has trained more than 190,000 Iraqi police officers and soldiers," he said.

"With the decline in the security situation in Baghdad and other parts of Iraq, the improvement of the security situation and the efforts of the Iraqi government and the United States And other international partners, more than four million displaced Iraqis have returned to their homes in safety and dignity. Minority ethnic and religious communities have also begun to recover after being targeted by genocide. "

"Our economic relations are growing and we are working hard to promote trade and investment between Iraq and the United States. Last month, the embassy cooperated with the Iraqi government and the American Chamber of CommerceTo bring more than 50 American companies to Iraq to establish new trade and investment partnerships,

"explaining that" in light of all this progress I see unlimited opportunities for Iraq in the future, Iraq is a rich country and has an abundance of oil, gas, water and arable land, and has segments of learners Smart people who work hard and also have the support of the United States and dozens of other countries that want to see it transform into an independent, democratic, prosperous and sovereign country.

"By 2025, one million young Iraqis will enter the labor market each year at a time when the government is no longer able To provide employment for all who need to Here, as well as the armed factions beyond the control of the state has imposed its control over many areas of the country , which led to provoke fear and frustration many of the displaced Iraqis and prevented them from returning to their homes, "he said . "

He said that "bureaucracy, corruption and lack of clarity in the procedures impede the pursuit of businessmen to expand their projects in Iraq and create new jobs," wishing success to Iraq. "

Suleiman offered his views on how best to achieve success, which included" Iraq must protect its sovereignty by securing its borders and building troops "Iraq has to work to liberate its economy from corruption and bureaucratic obstacles that prevent businessmen from expanding their projects and creating new job opportunities, and at the gates.…D8%A7%D9%82/ar

By John Lee.

Iraq’s Basra Oil Company (BOC) has agreed a deal with the state-owned Iraqi Drilling Company (IDC) to drill 40 new oil wells in the giant Majnoon oilfield.

In a statement on Thursday, the Ministry of Oil said the aim is to increase production at the field to 450,000 barrels per day (bpd) by 2021.

Reuters estimates current production at around 240,000 bpd.

(Sources: Ministry of Oil, Reuters)