Economists warn of World Bank loans
Economists warn of World Bank loans
10/19/2012 (17:43 pm)
A number of economists that the subsidized loans for productive sectors in Iraq that will serve projects prejudice direct the lives of citizens because its benefits are less affect on the state budget.
explained Faleh applicable for the Finance Committee in the House of Representatives that the loans take the government from other countries came to cover the shortfall and that most of the International Monetary Fund or the World Bank.
noted in a statement (range) that: “There are loans other obtained by the State with interest as low as 1% so do not represent a burden on the budget and paid be a very long time, pointing to it supports the infrastructure. ” With regard to the Japanese loan between sari “that the loan had been allocated to set up new plants for fuel in the oil sector, in addition to the health sector, the environment and infrastructure in favor of such loans being achieved significant benefits through the development of infrastructure and capital formation, which is through these loans It is possible to pay. noting that “Iraq towards these loans in future periods.”
Iraq in “gap” positive
and had announced former central bank governor Sinan al-Shabibi while attending World Bank meeting in Tokyo that the IMF and the World Bank agreed to put Iraq under the name “site gap positive” for the economy during the debates Program Association institutions held in the Japanese capital Tokyo. said: that the two world wars called for Iraq to do more to attract foreign investors and global capital to work in Iraq and not to continue to rely on oil as a resource basis of the national economy .
it encouraged economic expert Dargham Muhammad Ali borrowing country for loans backed “little use” instead of borrowing from the World Bank for the development of projects that serve the citizen, figuring it differ from conventional loans.
said Mohammed’s (range), said: “This type of loan is given the form of aid to countries that are still building their economies and implement development projects, a type of subsidized loans and interest rates are almost zero approximately 1 thousand and be extended too long (30 years) so the pay does not affect the budget, stressing that “this kind of loans is a loan developmentally well and better than borrowing from the World Bank, these loans conditional on working within companies sober be projects of strategic importance for the Iraqi people.
pointed out that the loan “was allocated for water projects and the rural community in the south depending on the presence of Japanese troops in the south of Iraq in the past and conduct of the past for many surveys and studies about the need for citizens in that area.
joint cooperation with Japan
and The Ministry of Health signed with the Japanese side a joint cooperation agreement in the fields of health and medicine. Said Undersecretary for Management Dr Khamis Saad during a ministry conference concluded: “The agreement included several axes, including the construction and rehabilitation of health institutions and the development and training of human resources staffs medical, health and pharmaceutical industry, the focus of an important fact that Iraq needs to create modern factories for drugs, pointing to The ministry seeks to strengthen cooperation more closely with the Japanese side during the next term after seen the last term significant cooperation between the two sides., he said the focus was through the Convention on the development of public health public and private through the implementation of several development projects serving the public, along with the possibility of bringing in teams Japanese medical to conduct complex operations in health institutions in the country. ”