The Export-Import Bank of the United States (EXIM) has agreed to a Memorandum of Understanding (MoU) with the Ministry of Finance in Iraq The Export-Import Bank of the United States (EXIM) has agreed to a Memorandum of Understanding (MoU) with the Ministry of Finance in Iraq in order to rebuild Iraq and improve trade and economic cooperation between the two countries; the details of this are as follows: this MoU will replace a previous agreement signed in February 2018 in Kuwait and will increase the financing available from US$3 billion to US$5 billion. The MoU was signed in EXIM headquarters in Washington by EXIM President and Chairwoman, Kimberly A. Reed and Iraqi Deputy Prime Minister and Minister of Finance Dr. Fuad Hussein in addition to the Iraq Ambassador to the United States Fareed Yasseen. EXIM President and Chairwoman Kimberly A. Reed added, “This MOU signals to the marketplace that U.S. companies and their workers in America want to be a part of the rebuilding effort in Iraq.
“We anticipate that the EXIM-backed financing to follow from this agreement will support exporter and supply-chain jobs in multiple industries across the United States and also foster job creation in Iraq.
“Iraq is an important partner to the United States, and we look forward to working together to strengthen the relationship between our two countries.”