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Iraqi move to join the Asian Bank
21/2/2018 12:00 am [rtl] BAGHDAD / Mustafa al-Hashemi Iraq is moving to enter as an observer in the Asian Bank to invest in infrastructure for the purpose of participating in the reconstruction of cities destroyed by terrorism after the figures showed amounts, which resulted from the Kuwait Conference for the reconstruction of Iraq, insufficient to meet the needs of the reconstruction of destroyed cities . The Asian Infrastructure Investment Bank (AIIB) was established in 2014 as a US $ 50 billion international bank with more than 35 non-US contributory countries based in Beijing. The Financial and Banking Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh in a statement to the "morning" on the existence of a formal move in this regard to join the Asian Bank for investment in infrastructure, explaining that "the economic and financial conditions that passed in the country in 2014 prevented the accession of Iraq at the time to this bank, A few million dollars. " Participation and membership continued "If Iraq had the necessary funds to join it would have entered as a shareholder in addition to another group of countries," adding that "the decline of oil prices to very low rates and the emergence of" dashing "was one of the main reasons for joining this the bank". "We are now moving towards Iraq as an observer," he said. "We hope that this year will witness the end of the procedures for joining the Asian Investment Bank in infrastructure to build cities and build good infrastructure for Iraq in general." He said that "as much as the funds contributed by countries in the Asian Bank to invest in infrastructure, they in turn receive contributions from loans and grants to meet the need of their countries for reconstruction and infrastructure." Conditions of accession Saleh stressed "the absence of obstacles to the accession of Iraq to this bank, noting that the requirements of loans of the IMF and the World Bank does not include restrictions on joining the Asian Bank for investment in infrastructure." The current period calls for concerted international and domestic efforts to rebuild the cities devastated by terrorism because Iraq fought a war on behalf of the world through a campaign to fight the terrorist "terrorist" organization. Kuwait's reconstruction conference ended last week without reaching the target of $ 88 billion, which was estimated to be sufficient to rebuild the cities devastated by terrorism. The results resulted in the allocation of $ 30 billion in loans and investments to donor countries participating in the conference. Internal borrowing in this regard preferred academic economic d. Falah Hassan Thueni the process of borrowing from the internal to external borrowing and in accordance with a particular arrangement of deliberate measures to exploit the surpluses of funds in local banks and employment in the reconstruction process . He added in an interview for "morning" that the foreign investment requires the presence of several factors do not require a lot of local counterparts, "noting that" the need to allocate projects of economic feasibility commensurate with the volume of excess liquidity in banks rather than external borrowing. " True contexts Tueini pointed out that the success "The process of financing reconstruction projects requires the existence of effective banks and the ability to finance productive loans instead of the launch of loans called individual loans lost," adding that "Success also requires the development of plans for the establishment of strategic projects related to infrastructure by adopting the correct working contexts to support such Producing projects that requires the government to be the guarantor of it. " "The Iraqi Trade Bank (TBI) is able to finance part of the reconstruction projects of cities destroyed by terrorism, as suggested by the bank earlier," he said. [/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
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