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Saudi Arabia gives Iraq $1 billion grant - state TV citing minister

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RIYADH (Reuters) – Saudi Arabia’s King Salman is giving Iraq $1 billion (£760.2 million) to build a sports city, state television said on Wednesday, citing the kingdom’s commerce minister.

Riyadh has been wooing Baghdad as part of an effort to stem the growing regional influence of Iran, while Iraq is seeking economic benefits from closer ties with its southern neighbour.

(Reporing by Stephen Kalin, Editing by William Maclean)

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