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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq and Austria sign a loan financing agreement to stimulate the agricultural sector

    Rocky
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    • Post n°1

    Iraq and Austria sign a loan financing agreement to stimulate the agricultural sector Empty Iraq and Austria sign a loan financing agreement to stimulate the agricultural sector

    Post by Rocky Tue 17 Sep 2024, 6:54 am

    Iraq and Austria sign a loan financing agreement to stimulate the agricultural sector
    • Time: 2024/09/17 12:01:54
       
    • Reading: 871 times

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    {Economic: Al Furat News} On Tuesday, Finance Minister Taif Sami Muhammad signed a loan financing agreement with the Austrian Ambassador to Baghdad from the Austrian Erste Group Bank to support the pivot irrigation systems project for the Ministry of Agriculture, with a value of (262,155,298) euros, and implemented by the Austrian Power Company.
    Sami's media office explained in a statement received by {Al Furat News}, that "signing the agreement comes within the framework of the government's efforts to enhance the infrastructure and improve public services, and it is expected that this funding will contribute to revitalizing the agricultural sector, alleviating water scarcity, stimulating economic growth, and creating more job opportunities." 
     The statement added that "the agreement falls within the strategy of joint bilateral cooperation between the Republic of Iraq and the Republic of Austria, and in implementation of the ministerial program and General Budget Law No. (13) for the years 2023, 2024 and 2025 and Cabinet Resolution No. 24630 of 2024, which focuses on adopting a governing vision for external borrowing for the benefit of investment projects with economic feasibility." 
    The Minister of Finance stressed "the importance of this step in enhancing economic cooperation between Iraq and Austria, and looking forward to more joint projects in the future," indicating that "the Austrian company Power will provide technical and advisory support to the Ministry of Agriculture during all stages of the project, including design, implementation, operation and maintenance." 
    She pointed out that "the project represents an important step towards modernizing the agricultural sector in Iraq, especially in light of the challenges facing the sector due to water scarcity and climate change, in addition to the fact that this investment will achieve significant economic returns in the long term, by increasing agricultural production and reducing dependence on imports." 
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