Egypt wins strong foothold in Iraq’s reconstruction

Amr Mostafa

Dec 8, 2020

TOPSHOT - A view shows the ravaged al-Idara al-Mahalia stadium, which was once used by Islamic State group fighters as a weapons depot, near the northern Iraqi city of Mosul on October 22, 2020. - Jihadi fighters from the Islamic State (IS) group seized Mosul in 2014, later expanding its so-called 'caliphate' to over a third of Iraq and into neighbouring Syria. In 2017, Iraqi and coalition forces forced the hardened insurgents out in a grinding urban battle that left the ancient city in ruins. The bullet-ri — A view shows the ravaged al-Idara al-Mahalia stadium, which was once used by Islamic State fighters as a weapons depot, near the northern Iraqi city of Mosul on Oct. 22, 2020. — ZAID AL-OBEIDI/AFP via Getty Images

CAIRO — On Dec. 4, the Federation of Egyptian Chambers of Commerce announced that a newly formed unit is collecting information on reconstruction projects in Arab countries, including financing opportunities, for the use of interested Egyptian companies.

In a statement, the federation noted that the Egyptian government has come a long way in establishing a strategic partnership with the Iraqi government regarding the reconstruction of Iraq, as well as other countries such as Lebanon, Libya and South Sudan.

On Nov. 1, Egyptian Prime Minister Mostafa Madbouly and his Iraqi counterpart Mustafa al-Kadhimi signed 15 agreements and memoranda of understanding for the reconstruction of Iraq through several projects in the electricity, renewable energy, petroleum, mineral wealth, housing, transportation, investment, trade and industry sectors in partnership with the Egyptian government and private sector.

Kamal al-Desouki, vice president of the Building Materials Industries Chamber at the Federation of Egyptian Industries, told Al-Monitor that with Egyptian and Iraqi reconstruction agreements, he expects Egyptian building material exports to reach $6 billion by 2021.

Egypt wins strong foothold in Iraq’s reconstruction

Millions of Egyptian workers may benefit from their government's involvement in Iraq’s massive reconstruction process.

SUBSCRIBER EXCLUSIVE

Continue reading this exclusive analysis

Original reporting and analysis unavailable elsewhere. Subscribe to AL-MONITOR to read this story and access everything we publish

Read By