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Germany Announces €500 Million Loan to Iraq

Razzaq alc-Issa stated, in a press conference, added that the loans of the World Bank, Japan, Germany will support rehabilitating Iraqi infrastructure.

Baghdad/Iraq tradeLink :Iraq
 
and Germany signed an agreement for a 500 million Euros loan to reconstruct and rehabilitate the liberated areas
 
Acting Finance Minister Abdul Razzaq alc-Issa stated, in a press conference, added that the loans of the World Bank, Japan, Germany will support rehabilitating Iraqi infrastructure.

He expected that another loan is expected to be received from Britain.

In November, 2016, the Iraqi Planning Ministry announced that the German loan will be inserted in 2017 national budget.

It added that a team shall be formed to discuss the proposed projects to be financed by the German loan.

No information was given on the interest of the loan or the period for payments.

Iraqi infrastructures were destroyed in a number of provinces that witnessed Da'ish (ISIS) war.

Last September, 2016, the Iraqi government announced its needs for 

14 billion dollars, at least, to rehabilitate the liberated areas.

Source: Iraq TradeLink

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