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Kurdistan Region President receives Spain’s Ambassador

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Erbil, Kurdistan Region, July 28, 2021

Kurdistan Region President Nechirvan Barzani received Mr. Juan Jose Escobar, Spain’s outgoing Ambassador to Iraq, on Wednesday.

At the meet, the President bid farewell to the outgoing Ambassador and wished him success in his new duties. The President also thanked Mr. Escobar for his contributions to the development of Iraq and the Kurdistan Region’s relations with Spain.

Discussions also covered future relations between the two countries, Spanish investment opportunities in the Kurdistan Region, the status of early elections in Iraq, latest developments in the wider region and other topics of mutual interest.

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KRG’s Ninth cabinet marks 2nd anniversary with 27 projects started over past year

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Erbil, Kurdistan Region, Iraq (GOV.KRD) – The ninth cabinet of the Kurdistan Regional Government started 27 multisectoral projects from March 2020 to June 2021, as it reaches the 2nd anniversary since its foundation.

The KRG invested $332 million on housing projects, developed a $250 million wheat marketing project, distributed $2.56 billion worth of business licenses, and completed the MED steel factory in Erbil with a budget of $100 million.

Over 400,000 plants were distributed to farmers, and a $10 million food processing plant was constructed in Duhok as part of government efforts to promote local products.

The ninth cabinet commissioned a 100-bed hospital in Shiladze, and allocated $4 million USD to run three blood banks in the region. They further allocated $585,240 for an autism center in Erbil, $2.1 million as a bonus for health workers, and 1.6 billion dinars for cancer treatment hospitals.

The KRG launched the 150-meter road in Erbil, and relaunched the 100-meter highway project in Sulaimani after years of delay.

The 300 MW Khabat power plant and several new initiatives in Halabja were other projects of significance.

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Kurdistan Region Oil Price and Production Crashed due to Spread of COVID-19 During 2020

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Erbil, Kurdistan Region, Iraq (GOV.KRD) – The Kurdistan Regional Government released its annual oil and gas audit report for 2020, which revealed several drops in production due to the COVID-19 pandemic.

The region’s total exported and consumed oil for the year stood at 165,942,861 barrels, about 5 million barrels less comparing to 2019.

The average price of oil dropped to $28.1 per barrel as global markets crashed during the second quarter, with the gross value of crude oil sold via pipelines standing at $4,443,842,235.

As of Q4 2020, $294,315,126 of KRG funds remained held in a bank account in Lebanon due to restrictions on transferring foreign currency outside the country.

The 2020 oil and gas sector audit was performed by international auditing firm Deloitte, as part of KRG efforts promote transparency inside the government.

The full 2020 audit report is available here:

https://gov.krd/english/information-and-services/open-data/deloitte-reports/deloitte-report-2020/