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Planning is discussing with JICA the possibility of continuing borrowing to finance new development projects
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[rtl]Baghdad / NINA / The Ministry of Planning discussed with a delegation from the Japanese International Cooperation Agency (JICA) the possibility of continuing borrowing to finance new development projects in Iraq, which included various sectors: (health, electricity, sanitation, and the Basra Refinery and the stages of its completion).
The Undersecretary for Technical Affairs, Maher Hammad Johan, explained in a statement: “The government decision to stop lending to new projects came in a way that includes inactive and late loans, which were not limited to loans from the Japanese side only.”
He added that work is underway to find a legal formula regarding the sixth phase of the Basra Refinery Project, as the project is included and ongoing, indicating that the sixth phase is a financing phase.
Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, had confirmed last year that the federal government was moving to stop external borrowing, except in cases of necessity, and that the loans would be directed to implementing giant strategic development projects, such as electricity projects, roads, irrigation stations, and ports./End 7[/rtl]
The Undersecretary for Technical Affairs, Maher Hammad Johan, explained in a statement: “The government decision to stop lending to new projects came in a way that includes inactive and late loans, which were not limited to loans from the Japanese side only.”
He added that work is underway to find a legal formula regarding the sixth phase of the Basra Refinery Project, as the project is included and ongoing, indicating that the sixth phase is a financing phase.
Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, had confirmed last year that the federal government was moving to stop external borrowing, except in cases of necessity, and that the loans would be directed to implementing giant strategic development projects, such as electricity projects, roads, irrigation stations, and ports./End 7[/rtl]
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