Iraq Gets a loan for $1 Billion dollars from the World Bank

Iraq Gets a loan for $1 Billion dollars from the World Bank




02/04/2012

Baghdad, April 2 (aknews) – the Commission services in the Iraqi Council of representatives Monday to draft dry channel connecting Iraq with the rest of the world will be implemented during the next may, after the Bank agreed to give Iraq a loan of one billion dollars.

Member of the parliamentary services Committee for Kurdistan agency Al-Awadi charity news (aknews) today that "dry Canal project linking Iraqi ports to Turkey and Syria and Jordan will be implemented after the Bank agreed to grant a loan of one billion dollars for the purpose of its implementation with a view to supporting the movement of ports in Iraq."

The Commission services will add financial Minister Rafe Al-Issawi to discuss ways to accelerate the arrival of loan to begin the process of implementation of the project, because it is supposed to work loan kits during the month of may ".

Al-Awadi said that "dry Canal project is one of the most important strategic projects that benefit the global transport Iraq and strengthen its geographical region."

Iraqi Transport Ministry has announced that the railway company is losing $ 72 billion dinars a year in salaries for its employees, indicating that annual profits not exceeding 12 billion Iraqi dinars.

Iraq seeks to build an integrated transport system linking with regional States across the Canal dry up between the Mediterranean and the Arabian Gulf and Eastern Asia, and is the largest channel transfer in the world.

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Iraq will build dry canal project with World Bank loan

02/04/2012 13:59

BAGHDAD, April 2 (AKnews) - The dry canal project, which will links Iraq to the rest of the world, will begin next May after the World Bank agreed to give Iraq a $1bn dollar loan.

Ihsan al-Awadi The Services Committee in the Iraqi Council of Representatives announced today, that the dry canal project, which connects Iraq's ports with Turkey, Syria and Jordan, will be implemented after the World Bank granted the loan in order to support the movement of the ports in Iraq.

Iraq is seeking to build an integrated transport link with the regional countries through the dry canal, the biggest transfer canal in the world, that links the Mediterranean and the Arabic Gulf and East Asian companies.

"The Commission services will host Finance Minister Rafie al-Issawi to discuss ways to speed up the arrival of the loan to begin the implementation of the project," Awadi said.

"The dry canal project is one of the most important strategic projects that will benefit Iraq in global transport and strengthen its geographical role in the region."