Economic Commission: We do not need to borrow from the World Bank to finance the dry canal
Economic Commission: We do not need to borrow from the World Bank to finance the dry canal
05/03/2014
BAGHDAD / JD / .. Committee warned the economy and investment representative, of the increase due to the financial burden the state to borrow from the World Bank for the implementation of large projects in the country.
The committee member said Jassim Chenkali Agency / JD /: “The claim by the Iraqi government to grant loans and from the World Bank for the implementation of the dry canal project will increase the financial burden of the state, because this is one of the big projects that need to monitor him money is difficult for the country repaid.”
He pointed out: that Iraq is still his trust paid off the remaining debt from banks to the global financial system since the former political and until now, when borrowing large sums of money from the World Bank will increase the burden of the state, particularly since these loans entail obligations and benefits increase in value per year.
He added that Iraq does not need these loans to the fact that he has a large financial budget is the largest in its history.
This has been signed by the Iraqi government represented by the Ministry of Construction and Housing contract with the World Bank funding dry canal project in Iraq, attended by the Minister of Construction and Housing Mohammad Darraji and Minister of Finance Agency purity of net debt and the World Bank representative Fred Belhadj.
This comes as part of a major project to develop and establish ways of a new strategy linking Iraq to neighboring countries, particularly the World Bank recognized the site of the Iraqi strategic and important for the development of global trade and passing through Iraq, where Iraq is the link between the East and the West. / End / 8 /
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