World Bank: Iraq will exceed its financial crisis

by **dizzydee** Fri 08 May 2015, 2:32 pm

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World Bank: Iraq will exceed its financial crisis

by dizzydee Fri 08 May 2015, 2:32 pm

May 8, 2015

World Bank: Iraq will exceed its financial crisis

The World Bank said it would provide a loan to Iraq, repaid over 35 years, at an interest rate of up to 1.5% and expected to contribute to the loan with the help of Iraq in the current financial crisis.

He said the World Bank for the Middle East and Asia adviser, charitable Shban, "The World Bank seeks to help Iraq in its current crisis, which caused big losses to him, hoping that the bank provides loans that will be of great financial and economic interest."

"The bank is considering providing a loan for Iraq, are repaid in 35 years, with an additional five years with interest to allow up to only 1.5%, making it one of concessional loans, in terms of the conditions and facilities compared to what provided by banks and private institutions."

He pointed out that "the loan will be devoted to the reconstruction and provision of services to the liberated areas, and encourage investors to work in Iraq after the availability of those loans, expected to be the launch of this loan by next July and father."

Shban confirmed that the loan would help Iraq to cross its financial crisis this year and the next two years that can be played by and recover a record time.

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