Following meetings between a high level Saudi delegation and Iraqi counterparts in Baghdad, the Kingdom have pledged investment of $1 billion for the construction of a new Sports City in Baghdad
The new Sports City, which was first suggested following last years football match between the two countries, will be called the King Salman Sports City.
In addition to the grant, the Kingdom will also be opening its consulate in Baghdad this week, with a further three consulates to be opened in Iraq at a later date.
Following a day of talks, Saudi Trade Minister Majid Al Kassabi has also revealed that Iraq has offered 186 different investment opportunities for Saudi investment as the two countries continue to develop closer ties.
Source: The National