Iraq mulls $400B fund for projects

Iraq plans to establish a $400 billion fund to finance infrastructure and energy projects over 30 years, in cooperation with the United States. The first phase includes the production of 500,000 barrels of oil per day, which can be increased to two million barrels, with the aim of supporting electricity and development projects. Its resources will be deposited in American banking institutions. Additionally, Iraq is striving to raise its oil production to 7 million barrels per day within the next three years and is engaging in discussions within OPEC to secure an oil production quota that matches its capabilities.

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