Italy on Wednesday said it has written off 80 per cent of the 2.4 billion Euro debt owed by Iraq.
In a release, Italy's Foreign Ministry said its Undersecretary Alfredo Mantica has signed a Memorandum of Understanding (MoU) with Iraq's Ambassador to Italy Muqafaaq Abboud.
As Italy is the third Paris Club member after the US and Canada that writes off most of Iraq's debt, Mantica, in a press statement, said such a step proves Italy's sincere desire and absolute commitment to rebuilding Iraq.
Source: MENAFN
