Iraq and Turkey launched a new stage of cooperation in the water sector: projects will be financed by revenues from Iraqi oil
Kyiv • UNN
Ankara and Baghdad signed an agreement on water infrastructure, where Turkish companies will implement projects financed by Iraqi oil. The agreement provides for the construction of three dams and land reclamation programs.
Baghdad and Ankara have signed an agreement that paves the way for large-scale water infrastructure projects in Iraq. Under the agreement, Turkish companies will implement them, and financing will be provided from the proceeds of Iraqi oil sales to Turkey. This was reported by official sources from both sides, according to Reuters, writes UNN.
Details
The document defines the mechanism for implementing the framework agreement on water resources management, concluded in April 2024 during Turkish President Recep Tayyip Erdoğan's visit to Baghdad. At that time, the countries announced the beginning of a new phase of improved relations after a long period of political disagreements.
According to the agreements, Iraq will establish a special government committee for project selection and invite Turkish businesses to develop them. Payment for the work will be made under a special scheme – from oil supplies to Turkey.
The first package of projects will include: three new dams to improve water collection and conservation, and three land reclamation programs to restore fertility to affected areas.
Water scarcity remains a pressing problem for Iraq: approximately 70% of the country's water resources come from abroad from the Tigris and Euphrates rivers, which originate in Turkey. The construction of Turkish dams previously exacerbated tensions between the states, but the current agreement indicates a gradual transition to cooperation instead of conflict.
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