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Al-Kazemi’s advisor reveals the details of the Chinese loan and the projects funded by it
September 28, 2021
Al-Kazemi’s advisor reveals the details of the Chinese loan and the projects funded by it
September 28, 2021
Projects on the implementation list (Facebook)
Ultra Iraq - Editorial Team
Adviser to the Prime Minister, Mazhar Muhammad Salih, revealed the details of the Chinese loan and the projects financed by it.
Saleh said in a statement to the official agency, and "Ultra Iraq" followed him, "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 is guaranteed by the China Export Credit Guarantee Agency (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 production efficiency, which means the start of the work of the cooperation framework agreement between the two countries."
And he added, "Work is still continuing to prioritize projects that Chinese government companies can advance in the form of direct implementation contracts in accordance with international best 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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