Wednesday 30 September 2020 - 14:20
The Parliamentary Finance Committee confirmed the withdrawal of all accumulated funds for the Iraq-China agreement.
"The cumulative funds of the Iraqi-Chinese agreement due to the sale of 100,000 barrels per day have been withdrawn to cover the salary deficit in the past months," committee member Naji Saidi told The Iraqi News Agency (AAP).
"The funds frozen in international banks are very few, they do not rise to the solution of the liquidity crisis," he said, adding that "the recovery of frozen funds is the responsibility of the Ministry of Foreign Affairs".
"The Iraqi-Chinese agreement is still in force and extends to 20 years," he said, noting that "Iraqi sovereign funds accumulated in favor of the agreement may have reached about $1 billion since it was activated in mid-October last year."
Saleh added that "the activation of the agreement is still waiting for the removal of two basic constraints, the first concerning the legislation of the federal budget law for 2020, to allow the adoption and implementation of the projects approved, especially the main infrastructure projects adopted by Iraq," pointing out that "the second factor is the return of China to the international economic arena and its opening up again to the world."
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