iraq to get 10billionpound loan for british contracts
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Iraq to get 10-billion-pound loan for British contracts

Arab Today, arab today

Arab Today, arab today Iraq to get 10-billion-pound loan for British contracts

An aerial view of central Baghdad and the Tigris river
Baghdad - Arab Today

Britain has agreed to arrange 10 billion pounds in loans to finance infrastructure projects in Iraq over a 10-year period, Iraqi Acting Finance Minister Abdul Razzak al-Essa said on Sunday.

Only British companies can be contracted to carry out projects funded by these loans, he told a news conference in Baghdad. “The interest rate on the loans should be determined by the British companies,” he said. “This loan is exclusively allocated to British companies.”

The two countries agreed to sign a memorandum of understanding that will serve as a framework to provide funds to specific projects during this period, the finance ministry said earlier in a statement.

“The aim of the loan is to finance infrastructure projects including water and sewage, over a period of 10 years,” it said.

Britain is a main partner in the US-led coalition helping Iraq defeat ISIS, the hardline Sunni group that overran about a third of the country in 2014.

Fourteen years after the US-led invasion that toppled Saddam Hussein, the country still suffers from poor electricity and water supplies and a shortage of schools and hospitals, while existing facilities are neglected.

The oil-rich country is also plagued by corruption that eats away at its crude sales income. Government finances have been further weakened after 2014 when oil prices collapsed.

The fall in oil prices happened with the launch of Islamic State’s offensive across Iraq which set off a new wave of sectarian violence, displacing more than three million people.

US-backed Iraqi forces pushed the militants back and are besieging them now in their last major urban stronghold, on the western side of the city of Mosul, in northern Iraq.

Source : Al Arabiya

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iraq to get 10billionpound loan for british contracts iraq to get 10billionpound loan for british contracts

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iraq to get 10billionpound loan for british contracts iraq to get 10billionpound loan for british contracts

 



GMT 11:28 2017 Saturday ,15 April

President Al-Bashir's visit to Kuwait and Bahrain

GMT 07:51 2017 Sunday ,26 November

HRH Crown Prince condoles with Egyptian President

GMT 14:35 2018 Friday ,12 October

Bahrain's media history documentation hailed

GMT 11:45 2017 Friday ,29 December

10 bodies found in mass grave in Myanmar

GMT 08:44 2016 Monday ,19 December

Hopeless Afghan struggle to save boy sex slaves

GMT 15:15 2013 Friday ,05 July

I breathe freedom in Jordan

GMT 12:55 2016 Sunday ,18 December

Kerry in likely last visit with Saudi king

GMT 05:49 2017 Wednesday ,24 May

Indian police make arrests after mobs lynch 8

GMT 12:12 2017 Sunday ,19 February

More South Sudanese officials quit unity gov't

GMT 09:25 2017 Wednesday ,09 August

Ghada Abdel Raziq prefers exciting drama

GMT 15:03 2017 Saturday ,14 October

HM King congratulates French President

GMT 22:10 2017 Wednesday ,03 May

Boosting Bahraini-Czech relations discussed

GMT 12:43 2017 Thursday ,30 November

Saudi prince freed in 'billion-dollar deal'

GMT 03:55 2017 Friday ,17 November

Al-Hilal's Eduardo looking to lead from the front

GMT 03:26 2017 Saturday ,18 November

Tesla's all-electric semi truck
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday