Iraq signed a loan agreement with the World Bank $ 250 million

Iraq signed a loan agreement with the World Bank $ 250 million

(Voice of Iraq) - 18/03/2010



(Voice of Iraq) - in order to bridge the deficit in 2010 budget
BAGHDAD - morning


Iraq signed yesterday with the World Bank loan agreement worth $ 250 million shortfall in the budget for 2010.


The agreement was signed by the Iraqi Finance Minister Baqir Jabr Al-Zubaidi, and the World Bank representative in Iraq, John Michel. Zubaidi said at a news conference after the signing ceremony that the duration of the loan 15 years, including a grace period of 5 years. He said he will start to repay the loan during the semi-annual installments period from 2014 to 2024.


He said the government will use the loan to finance the deficit in the general budget for 2010 and will have access to the Ministry of Finance within a short time after signing the agreement. Zubeidi He received an invitation from the Chinese side to attend the signing ceremony of extinguishing 8 billion dollars worth of Chinese religion in Iraq after the approval of the Council of State China to extinguish the debt, noting that the Iraqi delegation will travel to China next week to sign the agreement.


For his part, the representative of the World Bank loan was approved by the Board of Directors of the World Bank and the twenty-fifth day of last February, the first loan request loans from Iraq. "The World Bank does not ask for any guarantees in return for this loan, because Iraq is one of the founders of the World Bank .

Iraq gets a loan of $ 250 million from the World Bank

(صوت العراق) - 18-03-2010 (Voice of Iraq) - 18/03/2010



(Voice of Iraq) - Ghassan Ali


Interest rate not to exceed one percent and the duration of payment of up to five years and the Iraqi government signed an agreement with the World Bank for a loan of two hundred and fifty million dollars paid half-yearly deductions.


Iraqi Finance Minister Bayan Jabr said at a news conference Wednesday on the sidelines of the signing of the agreement that the current value of the loan is part of the largest loan has been agreed upon with the World Bank and the value of half a billion dollars, noting that the loan will be in cash to Iraq to be used to finance the deficit in the state budget for the current year.


He Zubaidi said in an interview to Radio Free Iraq to that if it does not contribute to current loan bridge the shortfall in the budget, Iraq will resort to borrowing again from the World Bank, noting that a preliminary agreement with the IMF to borrow three billion and eight hundred million dollars would be allocated other also address the budget deficit.


The Iraqi Council of Representatives passed in the twenty-sixth of the month of January last, the general budget for 2010 with a total value amounted to about seventy-two billion dollars and the deficit reached a value of around eighteen billion dollars.


The minister affirmed that the Iraqi finance this deficit will be covered by loans obtained from international organizations, in addition to the cash surplus recycled from previous years and the shortfall in the estimates of oil prices.


For his part, the World Bank representative in Iraq, Jean-Michel Happy to report that the loan for the Iraqi government comes to help bridge the shortfall in the budget, it also will support policy reform and the private financial sector in Iraq as well as it will help to ensure the continued support of the Iraqi government share vocabulary Supply

World Bank gives Iraq a loan of $ 250 million
MENAFN - MENAFN -- 18/03/2010 18/03/2010


(MENAFN) Iraq World Bank granted a loan of $ 250 million, to plug in the budget this year.


He said Iraqi Minister of Finance that the duration of the loan 15 years, including a grace period of 5 years.


For his part, said the representative of the World Bank that the bank does not ask for any guarantees in exchange for this loan, because Iraq is one of the founders of the World Bank.


In a related development, China announced a drop of $ 8 billion of the value of the debt owed by Iraq, and after the approval of the State Council of China.


It is noteworthy that Iraq's oil reserves amounted to about disk 112 billion barrels, making it the second largest known oil reserve in the world. And make the proven reserves and potential (estimated potential in Iraq by about 150 billion barrels), and so is the second of the world after Saudi Arabia.


Some expect the Reserve in Iraq than his counterpart in the Gulf complete the search and exploration in the territory of Iraq that had not received a geological survey in full.