Signing an agreement with Germany to develop the electricity sector in liberated areas
27/11/2017 12:00 am
[rtl] BAGHDAD / Al-Sabah - Iraq signed a loan agreement with the Republic of Germany (45 million euros) to develop the electricity sector as a first stage in the German loan of 500 million euros. The Minister of Electricity, Qasim Fahdawi, on the sidelines of the signing of the agreement with the German Development Bank (KFW): "The government seeks to raise the level of services in all sectors of the side and promote the development of the country on the other hand," pointing out that "funding will be by projects (KFW), under the supervision of a consulting firm appointed as part of the German government grant to support the management of the loan. "
In turn, the Secretary-General of the Council of Ministers, Mahdi al-Alaq, that "Iraq is completing details about the German loan, which was agreed upon by Prime Minister Haider Abadi during a meeting with German Chancellor Merkel," noting that "the duration of the implementation of the terms of the loan covering the period between (2018) 2020), focusing on the development of water, electricity and sanitation projects, especially in liberated areas.
For his part, the representative of the German Embassy said that "the agreement between Iraq and Germany constitutes an important framework in the light of which new loan agreements will be signed supporting the required projects." He expressed his hope that "this step will contribute to the development of infrastructure in Iraq and the return of displaced persons to their areas."
In addition, the Ministry of Finance on behalf of the Iraqi government, in addition to the above agreement for the rehabilitation of power plants in Mosul, signed the financial agreement for the German government grant to use an administrative consultant to support the reconstruction fund of the regions affected administratively in the management of loans again.[/rtl]
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