World Bank grants a new loan to Iraq worth one billion and 200 million dollars
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World Bank grants a new loan to Iraq worth one billion and 200 million dollars
Admin Fri Dec 18, 2015 7:09 am
Follow-up - Iraq Press - December 18: The World Bank announced it had agreed to give Iraq a loan of one billion and two hundred million dollars, to help Baghdad in controlling the fiscal situation and improve the efficiency of the energy sector and to compensate the decline in oil prices and rising security costs.
The bank said in a statement Thursday it was taking "pays tribute to the initiation of the Iraqi government in the implementation of a strict economic reform program", declares, "approval of the financing for development policies aimed at fiscal consolidation, and providing sustainable energy project, and enhance the transparency of state-owned enterprises."
He added that "This operation is in line with the Iraqi government's plan for economic recovery for the period between 2015-2018, and committed by Iraq to implement reforms that will achieve the promotion of an integrated economic growth, and improve the efficiency of the delivery of basic services to the citizens, and to take the actions necessary to install the means of social protection."
It pointed out that "the loan will be used for reforms in three areas, namely" the reform of the public sector wage system ", and" the reduction of gas flaring operations, and expansion of electricity generation activities through the use of gas, and reduce spending on energy subsidies, "and" support transparency in institutions financial and non-financial institutions of the state. "
In turn, the large regional official of the World Bank on Iraq Fred Belhadj said that "the loan allocated to budget support and said the payout was once you get Baghdad before the end of the year."
He added, "These twin shocks - in this particular phase - constitute a threat to the stability of the country," noting that "it is necessary to prevent Iraq from falling into the clutches of a more profound crisis."
Belhadj said "the fall of Iraq in the clutches of chaos means mounting chaos in the Middle East, and in this particular what one wants that stage. We have enough of chaos. " Q ended
http://www.iraqpressagency.com/?p=175420&lang=ar
The bank said in a statement Thursday it was taking "pays tribute to the initiation of the Iraqi government in the implementation of a strict economic reform program", declares, "approval of the financing for development policies aimed at fiscal consolidation, and providing sustainable energy project, and enhance the transparency of state-owned enterprises."
He added that "This operation is in line with the Iraqi government's plan for economic recovery for the period between 2015-2018, and committed by Iraq to implement reforms that will achieve the promotion of an integrated economic growth, and improve the efficiency of the delivery of basic services to the citizens, and to take the actions necessary to install the means of social protection."
It pointed out that "the loan will be used for reforms in three areas, namely" the reform of the public sector wage system ", and" the reduction of gas flaring operations, and expansion of electricity generation activities through the use of gas, and reduce spending on energy subsidies, "and" support transparency in institutions financial and non-financial institutions of the state. "
In turn, the large regional official of the World Bank on Iraq Fred Belhadj said that "the loan allocated to budget support and said the payout was once you get Baghdad before the end of the year."
He added, "These twin shocks - in this particular phase - constitute a threat to the stability of the country," noting that "it is necessary to prevent Iraq from falling into the clutches of a more profound crisis."
Belhadj said "the fall of Iraq in the clutches of chaos means mounting chaos in the Middle East, and in this particular what one wants that stage. We have enough of chaos. " Q ended
http://www.iraqpressagency.com/?p=175420&lang=ar
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