The Iraqi government has reportedly received the first installment of the $5.3-billion dollar loan recently approved by the International Monetary Fund (IMF).
A senior Iraqi official told Anadolu Agency:
“The Iraqi government received Tuesday the first $634 million installment.
“The first installment will be allocated to the … relief of the displaced, education, health, and social care.“
He added that three of the 13 payments will come during 2016, and totalling an estimated $2 billion. The interest rate of 1.5 percent.