Iraq looking for partners to finance the 4500 project laggard in excess of $ 5 trillion dinars

Iraq looking for partners to finance the 4500 project laggard in excess of $ 5 trillion dinars




 Baghdad / peace Zidane 

The Iraqi government is currently looking for local and foreign companies to finance the 4500 stalled project worth 5 trillion dinars, through complete them in a "payment on credit." 
Said Abdul Zahra al - Hindawi, a spokesman for the Ministry of Planning (range), " The parliament has decided to finance new projects through deferred payment through the fiscal budget bill, but the problem of Iraq to Ataatalq new projects but stalled projects , " stressing that " the parliament amended the article and decided to add paragraph financing stalled projects amounting to 4.5 thousand projects. " 
Hindawi said that "financing for new projects , the conditions are not size of the project exceeds $ 2 billion and the interest rate does not exceed 6% and have to pay the premium semi - annual interest on the money that has been spent on the project , " pointing out that "foreign companies from Britain and Japan , in addition to the only regional begun funding stalled projects. " 
A spokesman for the Ministry of Planning and stressed that "some provinces are currently in line with the companies to fund stalled projects, especially those related to supporting the economy , a water and sewage, agriculture, irrigation and others." 
On the other hand, MP Najiba Najib, a member of the Economic Committee , said, (range) that " the parliament agreed to finance seven thousand project has reached proportions of the completion of a number of them for more than 80%, by funding on credit," she said , "should not exceed these funds 5 trillion dinars. " 
Najiba Najib explained that " the Iraqi government put the instructions and called on the companies to negotiate with them to finance projects needed by the country in the current period related to electricity, transportation and education sectors," predicting that "lead project funds on credit to move the market and provide significant employment opportunities." 
She member of the Economic Committee that " the Iraqi government has opened the doors to negotiate with the French, Chinese, Italian, Japanese and Kuwaiti and Iranian companies and acceptance depends on the ratio of the few Balrassanp and interest." 
On the other hand, Azim al - Khafaji, an economist , said that "borrowing for projects lagging when re - evaluated shows that economic viability is weak, and that 90% of the lagging project completion rates do not exceed 10%." 
Khafaji said that "insisting on the wrong crime against the Iraqi people, because the current borrowing interest rates will be high for the existence of the risk and the high value of the insurance." 
He noted economist that "all contracts to be financed on credit marred by corruption, because the cost of completion outweigh the actual costs many times , " adding that "no support for re - borrowing to complete these projects is rapidly falling into the abyss." 
In the meantime, Ihsan algebra, economics professor at Baghdad University, said in comments made by the (long) yesterday, " The term funding through foreign companies will have two effects positive and negative, it is positive to inject additional hard currency into the body of the economy and resolution of financial crisis government sector which represents the survival status of a great recession paralyze most of the non - oil sectors of the economy that are vulnerable to the asset. " 
Jabr added that " the negative impact will be through pay very high interest rates, which increases the financial burden on the present and future generations has pledged the entire economic activity burdens of interest payments and debt repayments." 
He said economic expert , said , "Strahan projects that foreign companies are never arise, where marching future economic activity and financial resources , however , these companies, especially if they signed contracts harsh conditions on the local party."


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