London provided 10 billion pounds to develop infrastructure

London provided 10 billion pounds to develop infrastructure



05/8/2017 12:00 am

Economic Forum in Baghdad hosted the British Ambassador
Baghdad / Hussein Thogb
The Iraqi Economic Council recently held an economic seminar hosted by British Ambassador to Baghdad Frank Baker to discuss the reality of economic cooperation between Iraq and Britain.
The meeting was opened by the head of the Economic Council Ibrahim al-Baghdadi al-Massoudi, who said that Britain was one of the countries that offered and still supports Iraq. He said that the Iraqis managed to achieve successive victories over the terrorist "calling" and liberating Mosul and other cities where there was blind terrorism.
Al-Baghdadi explained that cooperation with Britain includes a number of important aspects, including the economic aspect, there is great cooperation at the governmental level between the two countries, as well as economic cooperation witnessed by relations between British and Iraqi companies.
He pointed out that a few weeks ago, the Iraqi Embassy in London held an important economic conference under the title (Trade and Investment in Iraq) was intended to discuss the investment projects available in Iraq, noting that Britain provided Iraq a loan of 10 billion pounds, 10 years to develop infrastructure in Iraq.
In turn, the British ambassador in Baghdad, Frank Baker, congratulated the Iraqis on the liberation of Mosul and the courage and valor of the security forces.
He stressed that the Iraqi Economic Council and a number of decent organizations will have a significant role and important in the next phase, calling on Iraqis to work on the diversity and diversity of sources of national income, indicating that Iraq has a range of natural resources and can be useful to benefit.
Baker stressed the need for concerted efforts to restore the Iraqi national industry for the past, and provide jobs and give a role to promote the service sector in the country, and talked about the mechanism of entering into projects and subcontracts through the financing of the British loan initiative.
For his part, Advisor to the Ministry of Foreign Affairs Ihsan al-Awadi said that the United Kingdom has provided significant support in the development of oil, gas and electricity sectors, adding that his ministry is working to facilitate the task of entry of British investment companies to Iraq.
The member of the Finance Committee, Parliament Haitham Jubouri: This initiative has a great interest from the Iraqi side, calling for a working partnership between the private sector of Iraq and the British and to be active participation and we expect Britain to play an important role in the reconstruction of liberated areas and attention to the humanitarian file of the displaced because of its importance Especially after the file has been a failure at the level of international humanitarian organizations.
The former Minister of Industry, Mohammed Al-Darraji, said that the loan, which will be provided by Britain, is a credit memo for Iraq to obtain the loan amount of 10 billion pounds from the so-called (UKKAF) British Lending and Export Support Fund to be at least 30 And the loan will be spent on infrastructure projects to be agreed between Iraq and Britain, indicating that British and international companies can not work in Iraq without being with local companies from the private sector.
Iraq signed a contract with Britain earlier to finance infrastructure projects, including water, sewage, roads, bridges and hospitals.
When opening the door of the interventions in the symposium, Engineer Laila Abdul Latif (Minister of Labor and Social Affairs) pointed out that any investment project needs a safe environment, stressing the need to benefit from the energies of half the society through the employment of women and the allocation of the amount of the loan to productive women.
In turn, a member of the Board of Directors of the Iraqi Contractors Union Naim Kazem Hassan the possibility of a relationship of cooperation between Iraqi companies and their British counterpart through the secondary contracts and provide logistical support to work in Iraq if necessary.
A member of the Center for Investment and Reconstruction Qais al-Wazzan said that many
projects were suffering from
problems in the system of management and financial corruption, bureaucracy and routine, calling to be overcome all this in such projects. In turn, a member of the Board of Directors of the Iraqi Contractors Union Naim Kazem Hassan the possibility of a relationship of cooperation between Iraqi companies and their British counterpart through the secondary contracts and provide logistical support to work in Iraq if necessary. A member of the Center for Investment and Reconstruction Qais al-Wazzan said that many projects were suffering from problems in the system of management and financial corruption, bureaucracy and routine, calling to be overcome all this in such projects. In turn, a member of the Board of Directors of the Iraqi Contractors Union Naim Kazem Hassan the possibility of a relationship of cooperation between Iraqi companies and their British counterpart through the secondary contracts and provide logistical support to work in Iraq if necessary. A member of the Center for Investment and Reconstruction Qais al-Wazzan said that many projects were suffering from problems in the system of management and financial corruption, bureaucracy and routine, calling to be overcome all this in such projects.

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