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Transportation approaching borrow about one billion dollars from a US bank to finance the Boeing air

day dreamer
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boeing - Transportation approaching borrow about one billion dollars from a US bank to finance the Boeing air Empty Transportation approaching borrow about one billion dollars from a US bank to finance the Boeing air

Post by day dreamer on Fri 6 Feb 2015 - 12:02

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Boeing received Iraq through 2013
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Author: BS, MJ 
Editor: BK, BS 
2.6.2015 5:23 p.m. 

 
Long-Presse / Baghdad
The Iraqi Ministry of Transport, on Friday, on the completion of 80 percent of its negotiations with the US bank to finance the purchase of Boeing aircraft, indicating that, the deal includes Iraq for interest-free loan worth one billion and $ 600 thousand repaid over ten years.
He said Transport Minister, Bayan Jabr, in an interview to the (long-Presse), "The ministry completed about 80 percent of its negotiations with the Akzm American Bank to finance the purchase of aircraft Boeing," noting that it "came after the House of Representatives approval of a paragraph in the draft Balancing Act 2015 empowers the Minister of Finance to sign the contract with the Central Bank. "
He said al-Zubaidi, that "The ministry will receive under the contract with the US bank a soft loan without interest, about one billion and $ 600 thousand, are repaid over more than ten years."
The Iraqi Civil Aviation Authority confirmed in (14 September 2014), the Boeing deal is still valid, despite the financial crisis in the country, while revealed talks with US banks to agree on their own financial payment method, expected rise in the number of aircraft that owned by Iraq from 24 currently to 76 at least, during the next year in 2016.
The Iraqi Airlines, received, in (the twentieth of April 2014 the past) Fourth, the plane of the American Boeing Company within the contract with them, and included 45 modern aircraft.
The former minister of transport, Hadi al-Amiri, declared, in (14 August 2013), the arrival of the first Boeing aircraft type (800-737) to Baghdad International Airport of the 45 aircraft contracted by the Iraqi government on them, indicating that the remaining aircraft will arrive to Iraq successively year up to 2016, and in the detection of the conduct of flights during the month of August to Russia, China, Denmark, the number of aircraft in the Iraqi air fleet arrived explained to 21 aircraft.
Iraq signed in May 2008 and the first two decades with the company (Boeing) US to buy 40 aircraft, and the second with the company (Bompardo) Canadian, to buy ten aircraft, while the Ministry of Finance showed that the total value of the two contracts amounted to five billion dollars.
It is noteworthy that Iraq has six civilian airports, including Baghdad International Airport, which was established in 1982 by a French company, is one of Iraq's largest airports, and there are other airports in Mosul, Basra, Najaf, Erbil and Sulaymaniyah.


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csd9013
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boeing - Transportation approaching borrow about one billion dollars from a US bank to finance the Boeing air Empty Re: Transportation approaching borrow about one billion dollars from a US bank to finance the Boeing air

Post by csd9013 on Fri 6 Feb 2015 - 13:41

If there isn't a rate increase that loan will take forever to pay off.

    Current date/time is Wed 30 Sep 2020 - 16:50