The rise of Iraq on the New Silk Road
According to a report made by Shanghai's Fudan University through its Center for Green Finance and Development, China invested $ 59.5 billion in the 144 countries joining the New Silk Road in 2021.
In general, investments decreased by one billion compared to 2020, but in the Middle East and Arab countries they increased significantly.
Iraq, in particular, has become the third country of destination for investments and infrastructure and energy projects within the BRI, after Pakistan and Russia, with a total of 10.5 billion dollars. The most important Chinese projects in the area are the construction of the heavy oil power plant of Al Khairat, in the province of Kerbala, for an investment of 5 billion dollars and the development of the Mansuriya gas field, on the border with Iran.
Iraq, the second largest oil producer among OPEC countries, joined the New Silk Road in September 2019 on the occasion of the visit to China by former Prime Minister Adel Abdul Mahdi. Sino-Iraqi cooperation is an important stabilizing factor for Iraq, which in turn represents an important energy partner for China.