April 30 2018 10:31 p
"In the event of continued high oil prices, the government will abandon foreign borrowing and will dispense with international loan offers pledged by donor countries at the Kuwait conference," committee member Najeeb Najib told a news briefing.
"The preoccupation of most politicians in the parliamentary elections and the rise in international oil prices and increase the cash reserve for Iraq, as well as the administrative and logistical matters that were not completed by the government, caused delays in the implementation of pledges."
"The government has not yet set up land for foreign investment companies, which is the latest investment, as well as complex routine procedures," she said. "Donor countries have stipulated that the government should choose regions and companies in the implementation of its pledges on Iraq."
Sources confirmed that the pledges of the countries participating in the Kuwait conference for the reconstruction of Iraq amounted to 30 billion dollars. The aid will be in the form of loans, credit facilities and investments to Iraq to rebuild what has been destroyed by the war.