WORLD BANK: NO REQUIREMENTS ON THE IRAQI GOVERNMENT IN EXCHANGE FOR LOANS

by **wciappetta** Mon 13 Jul 2015, 8:16 am

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Post n°1

WORLD BANK: NO REQUIREMENTS ON THE IRAQI GOVERNMENT IN EXCHANGE FOR LOANS

by wciappetta Mon 13 Jul 2015, 8:16 am

WORLD BANK: NO REQUIREMENTS ON THE IRAQI GOVERNMENT IN EXCHANGE FOR LOANS

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World Bank: No requirements on the Iraqi government in exchange for loans

Author: [You must be registered and logged in to see this link.]on:July 12, 2015In: [You must be registered and logged in to see this link.]Views: 49 views
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BAGHDAD / Center Brief for the Iraqi Media Network (IMN) confirmed the World Bank representative in the Middle East and North Africa unique Belhaj that the World Bank lending to Iraq is to share with the Iraqi government in the war against terrorism, stressing that there is no requirements on the Iraqi government to provide loans from the World Bank.
Haj said in response to a question by a reporter (IMN) said that "the bank insisted on lending to Iraq after meeting Prime Minister Haider al-Abadi with the head of the World Bank," explaining that "this loan represents the support of the international community and the World Bank in particular to the Iraqi government at this critical time."
He noted that "the World Bank focuses its support on rebuilding areas devastated by terrorism and will expand support for Iraq," pointing out that "the loan is a step in the long road we want to be positive in the course of dealing between the World Bank and Iraq."
"The financial assistance will contribute to the $ 350 million program, which was approved by the Board of Executive Directors of the World Bank, in support of Iraq's efforts seeking to rebuild state institutions and the economy back to the path of growth in areas where the conflict calmed down."
He explained the pilgrim that "the reconstruction of the liberated areas the project is an important project and the World Bank stressed the need to speed up the loan for joint cooperation with the Iraqi government," adding that "motivational process very important is the bank in turn fully accept the risks arising from the situation in a fragile environment." .
"The project focuses on improving critical services in areas worn down by conflict," the immediate needs explaining that he "also emphasizes the development of sustainability over the medium term, which can be powerful institutions that provided by The project also aims to improve the relationship between the citizen and the state by strong participation".
Belhaj explained that the new project "aimed at the reconstruction and rehabilitation of infrastructure destroyed by Daash gangs in the country and restore public services in the municipalities under the control of the Iraqi government."
The World Bank stressed that "Iraq emergency development process designed to address the economic crisis caused by the security situation and the sharp decline in world oil prices, which is part of a larger program will be implemented over five years in the provinces of Salahuddin and Diyala Almtotrtin conflict and which carry the seven cities affected significantly destruction Daash left by gangs which (Tikrit and the role and Dhuluiya, Scientific and Jalawla and Saadia and the Great). "
This project will support the first year, according to the Convention, repair and rehabilitation of electricity, water and sewage networks, as well as damaged roads and bridges will also support the efforts of health care services through hospitals and mobile clinics, medical equipment and ambulances support.
The Ministry of Finance signed on Sunday, a contract with a representative of the World Bank to lend Iraq $ 350 million.
This loan comes under a number of technical and financial assistance from the World Bank and that a total of up to 1.7 billion seven hundred million dollars for the development of development plans in Iraq.
Of the Order of Haj, the Open: Mohammed Nasser

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[You must be registered and logged in to see this link.]In the beginning was the Word, and the Word was with God, and the Word was God.... For from His fullness, we have all received and grace upon grace. For the Law was given through Moses; grace and truth came through Jesus Christ. No one has ever yet seen God. The only begotten God, the One being in the bosom of the Father, He has made Him known. - Berean Literal Bible

by lonelyintexas Mon 13 Jul 2015, 8:58 am

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Post n°2

Re: WORLD BANK: NO REQUIREMENTS ON THE IRAQI GOVERNMENT IN EXCHANGE FOR LOANS

by lonelyintexas Mon 13 Jul 2015, 8:58 am

I wonder would this loan be the catalyst to give Iraq a credit rating in the near future.
Thanks
LIT

by weslin3 Mon 13 Jul 2015, 9:07 am

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Re: WORLD BANK: NO REQUIREMENTS ON THE IRAQI GOVERNMENT IN EXCHANGE FOR LOANS

by weslin3 Mon 13 Jul 2015, 9:07 am

Good questions lit.... Inquiring minds would like to know.

by Lobo Mon 13 Jul 2015, 12:35 pm

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Post n°4

Re: WORLD BANK: NO REQUIREMENTS ON THE IRAQI GOVERNMENT IN EXCHANGE FOR LOANS

by Lobo Mon 13 Jul 2015, 12:35 pm

The answer to the loan and the credit rating is yes. But, the process started way back "when" the IMF said to be credit worthy, Iraq needed to have a loan, it would show stability and "therefore" the IMF/WB would make the loan to Iraq. Shortly after that statement, the announcement was made that Iraq was applying for a sovereign credit rating. And, Iraq made the announcement not that long ago, they had the credit rating and would be making the announcement of what it is this month. Shortly after that announcement, the CBI announced that it had agreed on an exchange rate with Banks Union for the USD-IQD. This is ready to go in my opinion. What the date will be - I think any time between July 22 and Aug. 1st (which is a Saturday) and the CBI is OPEN on Saturdays. The taxes, tariffs, increase in costs for electric and water on the citizens go in place on Aug. 1. As to the rate, it is anyone's guess.

by weslin3 Mon 13 Jul 2015, 1:09 pm

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Post n°5

Re: WORLD BANK: NO REQUIREMENTS ON THE IRAQI GOVERNMENT IN EXCHANGE FOR LOANS

by weslin3 Mon 13 Jul 2015, 1:09 pm

Sounds good... Just hope they follow through... at some point in the near future.

by mochasmom Mon 13 Jul 2015, 3:39 pm

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Post n°6

Re: WORLD BANK: NO REQUIREMENTS ON THE IRAQI GOVERNMENT IN EXCHANGE FOR LOANS

by mochasmom Mon 13 Jul 2015, 3:39 pm

Great summary lets hope they stick to the dates!

by **wciappetta** Mon 13 Jul 2015, 4:31 pm

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Post n°7

Re: WORLD BANK: NO REQUIREMENTS ON THE IRAQI GOVERNMENT IN EXCHANGE FOR LOANS

by wciappetta Mon 13 Jul 2015, 4:31 pm

lonelyintexas wrote:I wonder would this loan be the catalyst to give Iraq a credit rating in the near future.
Thanks
LIT

Well they have said that these loans show credit worthiness, they have borrowed from the IMF in 2005 [?] and paid the loan back early, that was under a state of international tutelage and very high oil prices.

This time its a free state and low oil prices, to me that makes this more impressive with growing expectation and confidence placed on iraq by the International community. Expecting a good report on credit for the free market though any credit rating will do, good or not so good.

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[You must be registered and logged in to see this link.]In the beginning was the Word, and the Word was with God, and the Word was God.... For from His fullness, we have all received and grace upon grace. For the Law was given through Moses; grace and truth came through Jesus Christ. No one has ever yet seen God. The only begotten God, the One being in the bosom of the Father, He has made Him known. - Berean Literal Bible

by **Neno** Mon 13 Jul 2015, 7:46 pm

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Post n°8

Re: WORLD BANK: NO REQUIREMENTS ON THE IRAQI GOVERNMENT IN EXCHANGE FOR LOANS

by Neno Mon 13 Jul 2015, 7:46 pm

Lobo wrote:The answer to the loan and the credit rating is yes. But, the process started way back "when" the IMF said to be credit worthy, Iraq needed to have a loan, it would show stability and "therefore" the IMF/WB would make the loan to Iraq. Shortly after that statement, the announcement was made that Iraq was applying for a sovereign credit rating. And, Iraq made the announcement not that long ago, they had the credit rating and would be making the announcement of what it is this month. Shortly after that announcement, the CBI announced that it had agreed on an exchange rate with Banks Union for the USD-IQD. This is ready to go in my opinion. What the date will be - I think any time between July 22 and Aug. 1st (which is a Saturday) and the CBI is OPEN on Saturdays. The taxes, tariffs, increase in costs for electric and water on the citizens go in place on Aug. 1. As to the rate, it is anyone's guess.

Saturday August the 1st is my yearly party with my PALS!. It's the only day of the year I have drinks and get really tipsy so, do not pull my leg that day... drunk