The Cabinet: The Mesopotamia Company will borrow 300 billion dinars to pay the farmers ’dues
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Economy News - Baghdad
The Iraqi Council of Ministers approved, during its weekly meeting, yesterday, Tuesday, the amendment of the method of payment of farmers' dues from barley.
The Cabinet clarified that it had been approved to amend Council Decision No. 265 of 2019 regarding the payment of farmers' dues from barley, according to the official news agency "conscious".
And the council stated that the way to pay will be through the Mesopotamia Seed Company - one of the formations of the Ministry of Agriculture - borrowing from the Iraqi Bank of Trade and other banks an amount of 300 billion dinars, with the aim of paying farmers' dues for barley for the year 2019.
The Council continued, that the Ministry of Finance will include the amount of loans with the benefits arising from them in the draft federal budget law for the fiscal year 2020.
The Council stressed that the Ministry of Finance will provide guarantees to pay off the loan amount with the benefits arising therefrom to the Iraqi Trade Bank.
The Cabinet stated that the decision is implemented from the date of its issuance.