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Britain Grants Iraq £10 Billion Pounds Loan

Iraqi Acting Finance Minister Abdul Razzaq al-Issa stated, on the signing ceremony with the British ambassador to Baghdad, that the implementation of the period will continue for ten years.

Baghdad/ Iraq TradeLink: Iraq signed today a memorandum of understanding to get a loan with the amount of 10 billion Pounds (12.3 billion dollars) to develop Iraqi infrastructure.

 
Iraqi Acting Finance Minister Abdul Razzaq al-Issa stated, on the signing ceremony with the British ambassador to Baghdad, that the implementation of the period will continue for ten years.

He added that the loan's amount shall be spent to finances infrastructure projects,  including water and sewerage projects.

Earlier, Iraq signed with Germany to get a loan with the amount of 500 million Euros to rehabilitate the liberated areas and to support Iraqi industries.

Iraqi planning ministry made negotiations with Britain in mid of September, 2016, to get the loan.

Source: Iraq TradeLink

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