Ministry of Finance: Iraq has raised $ 2.1 billion from local banks to finance projects to produce electricity.
17/03/2010
Minister of Finance said on Wednesday that Iraq collected $ 2.1 billion from local banks through the issuance of treasury bonds in order to finance projects to produce electricity.
Bayan Jabr said that Iraq had issued the second tranche sold last week after the initial tranche worth approximately three billion dollars by the end of last year.
Iraq has signed agreements in 2008, billions of dollars with General Electric and Siemens to add about nine thousand megawatts to power the country's electricity during the next few years.
Rushed into Iraq to search for ways to fund these agreements after his wife drop in oil prices of revenues, forcing him to cut its budget for 2009 three times.
After seven years of the US-led invasion the United States is still the national electricity grid in Iraq does not provide the country with electricity only a few hours each day. And frequent interruptions in electricity from the major complaints of most Iraqis.
The capacity of Iraq's current 7500 MW of electricity which is far below the needs of $ 12 thousand.
رويتر Reuter
17/03/2010
Minister of Finance said on Wednesday that Iraq collected $ 2.1 billion from local banks through the issuance of treasury bonds in order to finance projects to produce electricity.
Bayan Jabr said that Iraq had issued the second tranche sold last week after the initial tranche worth approximately three billion dollars by the end of last year.
Iraq has signed agreements in 2008, billions of dollars with General Electric and Siemens to add about nine thousand megawatts to power the country's electricity during the next few years.
Rushed into Iraq to search for ways to fund these agreements after his wife drop in oil prices of revenues, forcing him to cut its budget for 2009 three times.
After seven years of the US-led invasion the United States is still the national electricity grid in Iraq does not provide the country with electricity only a few hours each day. And frequent interruptions in electricity from the major complaints of most Iraqis.
The capacity of Iraq's current 7500 MW of electricity which is far below the needs of $ 12 thousand.
رويتر Reuter