The World Bank lends Iraq $ 1.7 billion

by **chouchou** Thu 02 Jul 2015, 12:34 pm

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The World Bank lends Iraq $ 1.7 billion

by chouchou Thu 02 Jul 2015, 12:34 pm

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(IraqiNews.com) Baghdad – The Ministry of Finance announced the World Bank’s intention to provide a loan to Iraq worth $ 1.7 billion, pointing out to the allocation of $ 350 million of the loan to the reconstruction of the liberated areas.

The ministry said in a statement followed by IraqiNews.com: “On Wednesday the Finance Minister Hoshyar Zebari has discussed, with the Director of the Iraq Programme and the World Bank team of experts and specialists in the economy, the implementation of development programs, plans and programs of the bank to provide a loan for Iraq, as well as the proposed humanitarian and development aid.”

The statement added, “It is scheduled that the World Bank will provide a loan of $ 1.7 billion to Iraq,” indicating that, “the load includes the amount of one billion dollars as a financing development policy loan (DPL), and $ 350 million for reconstruction of the liberated areas and 350 million dollars for building the road Umm Qasr – Basra.”

The ministry pointed out that “the government will take a series of reform measures in a number of economic facilities to avoid wastage and the rationalization of expenditure.”

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