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[size=36]Advisor to the Prime Minister: A large housing project is under study within the Chinese agreement[/size]
Political | 11:17 - 12/15/2023
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Baghdad - Mawazine News
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, today, Friday, identified two directions for the cooperation framework agreement between Iraq and China, and while summarizing what was implemented by Chinese companies, he revealed a large housing project under study, and an Iraqi desire to increase the investment account within the agreement. /span> He concluded by saying: “As for the second trend, investment funds directed to projects undertaken by Chinese companies have been included in the (tripartite) federal general budget law within the framework agreement between the two countries, and work continues on this path,” noting that “the duration of the agreement is 20 years, and there is An Iraqi desire to increase the investment account so that its balance increases from 100,000 barrels of oil out of the total oil exported daily to China, so that the financial flow in the investment account balance is returns from 150,000 barrels per day allocated for the purposes of investment projects, the allocations of which are recorded in the federal general budget.". He continued: “As far as the first trend is concerned, Chinese companies have implemented projects to develop electric power stations, the 1,000 school project, as well as the Nasiriyah International Airport, in addition to a large housing project under study dedicated to the poor and limited-income classes, in addition to starting to implement a number of projects.” A large number of hospitals in the governorates of Iraq. He added, “The second approach: is to grant Iraq a credit line with a total ceiling of $10 billion, provided by Chinese banks in the form of soft payments according to the need and agreement between the two countries, and with the guarantee of the Chinese government to implement urban projects that are also undertaken by Chinese companies and according to competitive principles.”
Saleh said: “The cooperation framework agreement between the Republic of Iraq and the People’s Republic of China (which was signed in May 2018 and the signing of its accounting and oil annexes was completed in September 2019) includes two directions: The first, allocating the revenues of 100 thousand barrels of oil from the total Iraqi oil exported to China, to be spent For infrastructure projects through Chinese companies.”
Saleh said: “The cooperation framework agreement between the Republic of Iraq and the People’s Republic of China (which was signed in May 2018 and the signing of its accounting and oil annexes was completed in September 2019) includes two directions: The first, allocating the revenues of 100 thousand barrels of oil from the total Iraqi oil exported to China, to be spent For infrastructure projects through Chinese companies.”
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