March 3, 2006

AN INTEREST IN SHI'ASTAN'S SUCCESS (via Mike Daley):

Iran to invest $1 billion in Iraq (Muthana Aidan, March 2, 2006, Azzaman)

Iraq has agreed to invest $1 billion to rehabilitate the country’s industrial sector, said Industry and Minerals Minister Abdulaziz al-Najafi in a statement.

The statement, obtained by Azzaman, said the money from Tehran will be invested in several industrial projects and Iraqi entrepreneurs were welcome to make use of it.

It said the money will be in the form of a long-term loan as it is being raised by an Iranian bank set up to encourage Iranian exports.

The statement said the bank has already earmarked up to $400 million for immediate investment and urged Iraqi entrepreneurs to hold talks with the Iranians on the kind of projects they want to participate in.

The Iranian side will cover the whole financing but only own 33% of the projects to be implemented. The other 66% will be owned by the Iraqi side.

Iraqis will start paying their share of investments 10 years after the completion of these projects in addition to only 1% interest.


Iran obviously has an interest in a more stable Iraq, but the mullahs are threatened in the long term by Ayatollah Sistani's more orthodox Shi'ism.

Posted by Orrin Judd at March 3, 2006 11:48 PM
Comments

If Iran has an interest in a more stable Iraq, why are they providing funding to the terrorists who are destabilizing it?

Posted by: Annoying Old Guy at March 4, 2006 10:09 AM

AOG,

Iran thinks it can play the strategic game. You know, the "play both sides of the street" farce. Only this time, there is definitely a greater chance of blowback.

Posted by: Brad S at March 4, 2006 11:05 AM

AOG:

Sunni are the common enemy of all Shi'a. We had an interest in a stable Latin America but destabilized communist regimes.

Posted by: oj at March 4, 2006 12:27 PM

Mr. Judd;

Ah, but we never invested in stabilizing and destabilizing the same regime. Iran either benefits from stabilizing or destabilizing the current Iraqi government, not both at the same time.

Posted by: Annoying Old Guy at March 4, 2006 1:12 PM

AOG:

Iran benefits from a Civil War in Iraq, as do we.

Posted by: oj at March 4, 2006 1:16 PM

Mr. Judd;

So, Iraq does not have an interest in a more stable Iraq. What, then, explains this investment, which would likely be swept away during a civil war?

Posted by: Annoying Old Guy at March 4, 2006 1:23 PM

They have an interest in a stable Iraq cleansed of Sunni. But southern Iraq is ready to become a Shi'astan already.

Posted by: oj at March 4, 2006 1:28 PM

the "investment" gives them cover to move in agents and materiel.

Posted by: toe at March 4, 2006 2:28 PM
« REPLACING THE WEST'S WORST IDEAS WITH ITS BEST: | Main | A MOST AMERICAN BRIT: »