CONTEMPORARY EURASIA VOLUME VII (1, 2) Contemporary-Eurasia-3new | Page 107

MUSHEGH GHAHRIYAN
to open another consulate in Najaf and a new border crossing between
the countries. Earlier in August 2017, Saudi Arabia and Iraq reopened the
Arar crossing for the fi rst time in 27 years. 23
In 2015, Saudi Arabia reopened its embassy in Baghdad after 25 years
of absence. In February 2017, Saudi Foreign Minister Adel Al Jubeir vis-
ited Baghdad. Three months later, Iraqi President FuadMasum visited Ri-
yadh to attend the Islamic-Arab-American summit.
Besides expanding its diplomatic presence in Iraq, Saudi Arabia prom-
ised large investments in various fi elds. In April 2018 the government of
Iraq announced, that the Saudi-Iraqi Coordination Council is examining
an agricultural investment project covering 1 million hectares in Anbar
province. The projects of Saudi Agricultural and Livestock Investment
Company (SALIC) are expected to create around 60,000 jobs in Iraq. 24
Another Saudi company, the Saudi Basic Industries Corporation, one
of the world’s leading petrochemicals companies, has opened offi ces in
Baghdad and Basra to expand economic exchange between the two coun-
tries. 25
At the beginning of 2018, a global donor conference was organized
in Kuwait. Donors have pledged almost $30bn to help Iraq rebuild after
the defeating the Islamic State. The money is a mix of grants, loans and
investment promises, with neighbors Kuwait, Turkey and Saudi Arabia
among the biggest donors, along with Qatar. 26 Saudi Arabia allocated $1.5
billion for the reconstruction of Iraq. The pledge from Foreign Minister
Adel Al-Jubeir included a $1 billion loan through the Saudi Fund for De-
velopment and $500 million in export credit. Kuwait pledged it would
provide $1 billion in loans from the Kuwait Fund for Arab Economic
Development and $1 billion in direct investments. Qatar announced $1
billion in loans and investments. The UAE pledged $500 million. 27 How-
ever, the pledged money has not reached even the half of Iraq’s needs.
Baghdad announced it needs $88 billion to $100 billion, but it raised only
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25
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Rushdi Al-Ani, “Iraqi envoy: “Saudi Arabia to open two consulates in Basra and Najaf,””
Arab News, August 19, 2017, http://www.arabnews.com/node/1147101/saudi-arabia (ac-
cessed June 8, 2018).
“Iraq agriculture projects attract Saudi investments,” The Arab Weekly, April 15, 2018,
https://thearabweekly.com/iraq-agriculture-projects-attract-saudi-investments (accessed May
6, 2018).
Ali Mamouri, “Saudi Arabia looks to expand its footprint in Iraq,” Al-Monitor, March 20
2018,
http://www.al-monitor.com/pulse/originals/2018/03/iraq-saudi-basra-najaf.html#ix-
zz5GjO5OOOX (accessed May 1, 2018).
Emma Graham-Harrison, “Donor conference pledges $30bn to help Iraq rebuild after Isis,”
The Guardian, February 15, 2018, https://www.theguardian.com/world/2018/feb/15/donor-
conference-pledges-30bn-to-help-iraq-rebuild-after-isis (accessed June 18, 2018).
Lulwa Shalhoub, “Saudi Arabia to allocate $1.5 billion for Iraq reconstruction, trade,” Arab
News, February 14, 2018, http://www.arabnews.com/node/1246236/middle-east (accessed
July 13,2018).
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