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[rtl]Iraq signs an agreement to obtain a loan to support the electricity sector[/rtl]
economy , 2023/11/12 19:11 Number of readings: 156
economy , 2023/11/12 19:11 Number of readings: 156
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[rtl]Baghdad - Iraq today:[/rtl]
[rtl]The Ministry of Finance signed a loan agreement to finance the electric power stations maintenance project with JPM Bank (fifth phase).[/rtl]
[rtl]A statement from the ministry stated, “Minister of Finance, Taif Sami, signed an agreement to finance the loan for the maintenance project for the Ministry of Electricity’s stations with JPM Bank, in partnership with (GE) General Electric International Inc., within the annual maintenance project (fifth phase) PUP5/B, at a total cost estimated at (257). )Million dollars".[/rtl]
[rtl]He pointed out that “the signing of the agreement falls within the framework of the fourth axis of Article Two/the State General Budget Law, and based on Cabinet Resolution No. (23588) of 2023, in which the Minister of Finance is empowered to sign the loan financing agreement for the project with JPM Bank and with the guarantee of the Import Bank.” And American export (US EXIMBANK).[/rtl]
[rtl]The Minister of Finance indicated during the signing ceremony that “financing the project loan will effectively contribute to increasing the efficiency of electric power generation plants in Iraq, which will reflect in the interest of raising energy productivity and thus reducing the gap between energy supply and demand and meeting the needs of citizens in all governorates.”[/rtl]
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