Iraq Allocates Up to $275 Billion for Projects, Shukri Says

Iraq has allocated as much as $275 billion for investment on development projects in the country until 2017, Planning Minister Ali al-Shukri said in an e-mailed statement today.

Shukri also asked international companies to boost investments in the country’s housing, tourism, education, agricultural and industrial industries.

Iraq holds the fifth-biggest crude reserves in the world, according to data from BP Plc (BP/) that include Canadian oil sands. The government is seeking investment and expertise to revive its economy and rebuild its infrastructure and energy industry after years of conflict and sanctions.

To contact the reporter on this story: Khalid Al-Ansary in Baghdad, Iraq, through the Dubai newsroom at kalansary@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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