The Egyptian and Iraqi government agreed to form a joint committee to discuss debts owed ​​by Iraq to Egypt, the Iraqi finance ministry said in a statement seen by MENA.

The agreement was made during a meeting between Egyptian Finance Minister Hany Qadri and his Iraqi counterpart Hoshyar Zebari at the World Bank headquarters.

The two sides reached a proposal in February for writing off the Iraqi debts in exchange for Iraqi oil shares.

Iraqi officials say governmental debts owed ​​by Iraq to Egypt are 800 million dollars.