[You must be registered and logged in to see this link.]Chinese Premier Li Keqiang (centre R) and Iraqi Prime Minister Adel Abdel Mahdi (centre L) attend a signing ceremony at the Great Hall of the People in Beijing on September 23, 2019. (Photo by Lintao Zhang / POOL / AFP)
Today, Tuesday, Adviser to the Prime Minister, Mazhar Muhammad Salih, announced the details of the Chinese loan and the projects financed by it, while noting that discussions are continuing to determine the priorities of the projects covered by the loan.
Saleh said in a press statement, "The cooperation framework agreement between Iraq and China has become effective, and it took its first course through the legislation of the General Budget Law for the year 2021, when an amount of more than one trillion dinars was approved, implemented through the Chinese loan with the guarantee of the Chinese Credit Guarantee Agency." and exports (Sinosure).
He added, "There are important technological projects in the field of industry and motivating the wheels of the economy, which will be financed from the aforementioned allocation contained in the budget law in order to improve its productive efficiency, which means the start of the work of the cooperation framework agreement between the two countries."
He continued, "Work is still continuing to prioritize projects that Chinese government companies can advance in the form of direct implementation contracts in accordance with the best international practices in contracting, and they are financed from the proceeds from the sale of Iraqi oil to the People's Republic of China."
He stressed, "The aforementioned agreement with China provided for allocating revenues of 3 million barrels of oil per month for the implementation of projects by Chinese companies at the request and selection of the Iraqi side in accordance with international standards," noting that "work is underway between consultants and experts in the state apparatus to prioritize projects with prejudice to And the first direct priority in the life of the citizen and human development in Iraq.”
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