Kuwait is to lend Iraq GBP4.4 million (sterling) to finance the expansion of a cement factory in southern Iraq.
Kuwait is to lend Iraq GBP4.4 million (sterling) to finance the expansion of a cement factory in southern Iraq. The loan agreement was signed in Kuwait on Wednesday (August 4) during official talks between the two countries, conducted mainly between their foreign ministers. News reports indicate that the talks also dealt with developments in the Middle East and various Arabian Gulf issues.
SYNOPSIS: A delegation of Iraq officials, ??? by foreign Affairs Minister Mr. Ash Sheikhali, was greeted by Kuwait Deputy Ruler Sheikh Jabah El-Sabah during a visit to Kuwait this week. The Iraq teem were there to hold various official talks and sign a loan agreement.
Kuwait's Foreign Minister, Sheikh Sabah El Sabah, and Iraq's Ambassador to Kuwait were also present at the greeting ceremony when the Iraqi officials arrives in Kuwait on Tuesday.
Later the same, day, Mr. Sheikhali and his delegation held talks with Kuwait's Deputy Prime Minister. Sheikh Saad El-Sabah. News reports paid the talks included the whole Middle East situation and various Gulf issues.
The following day, on Wednesday, the two countries signed a loan agreement in which Kuwait has promised to lend Iraq over four million pounds to finance the expansion of a cement factory in southern Iraq. Mr Sheikhali signed for Iraq, and finance Minister Mr El-Atini signed for Kuwait. The loan, over 15 years, will be repaid in 22 installments beginning in April 1974.
Later, the two Foreign Minister and their sides continued their talks at the Kuwait Foreign Office. Among subjects discussed, according to news reports, were the recent five-nation Arab summit on the crisis between one Jordanian Government and Palestine guerrillas: and the development of c-operation between Iraq and Kuwait. One official communiase said relations between the two countries were good, and they held similar views on most major issues. Further news reports indicated. That the proposed federation of Arab Emirates in the Gulf were a major topics in the talks. Iraq's claim to three islands in the region was also believed to have been discussed.
An official statement issued at the end of all the talks confirmed most of the news reports, and added that the Arab World needed to mobilise its resources to confront what it called "the joint enemy".