Iraq will reject the “bulk” of the loans of donor countries and the reason !!

Iraq will reject the “bulk” of the loans of donor countries and the reason !!

17-02-2018 01:34 PM

Iraq will reject the bulk of the loans of donor countries and the reasonBaghdad News –

Al-Hayat newspaper reported Saturday that Prime Minister Haidar al-Abadi may reject the “bulk” of the donor countries’ loans that Iraq received at a donor conference held in Kuwait for reconstruction.

The newspaper quoted a source described as early in the Council of Ministers, saying that ‘Abadi, intends to reject the bulk of the loans granted to Iraq,’ indicating that ‘this comes in accordance with the instructions of the World Bank, which stressed the inability of Baghdad to bear more debt, and Iraq is not obliged to accept These loans are dependent on foreign investment. ‘

The source said that ‘Iraq was hoping to get at least $ 5 billion, but he received only $ 1.8 billion in grants, and the rest are loans and facilities’.

The newspaper pointed out that ‘the Iraqi government, worked to hold extensive meetings with investors to activate the reconstruction plans put forward at the Kuwait conference recently,’ noting that ‘Prime Minister Haider Abadi, intends to give up some of the debt received by the conference from donor countries, The formation of national oversight bodies committees to monitor the disbursement of grants and the implementation of projects’.

In the same context, announced the Secretariat of the Iraqi Council of Ministers, that ‘the national task force will begin meetings starting next Monday, with ambassadors and representatives of international organizations in Iraq, to ​​start activating the financial obligations of their countries in relation to the reconstruction process’.

“Work is under way to hold extensive meetings with investors in March to agree on the investment opportunities that many companies have expressed their desire to seize in all Iraqi provinces,” she said.

The Secretariat revealed that “the amounts pledged by a number of States and regional and international organizations and funds, were distributed between soft loans and loans of $ 15.5 billion with a long time period of payment with facilities, allowing the country to invest these amounts and can pay them while accelerating the economy and do, Which creates great jobs in all governorates’.

“The value of the guarantees and financial facilities offered at the Kuwait Investment Conference amounted to $ 11.6 billion, while $ 1.8 billion was provided as grants to support stability and in the form of humanitarian and relief assistance,” she said.

The Secretary General of the Council of Ministers said that ‘the large sums pledged by the participating countries will be an important incentive for companies to invest in all governorates, especially in the sectors of housing, construction, agriculture, industry, tourism and transport, in addition to educational, health, environmental and other fields.’

She pointed out that «these amounts will lead to the enhancement of the requirements of development in the basic areas affecting the lives of citizens, especially in the sectors of education, health and public services and improve the quality, which reflects positively on improving the standard of living of citizens, in addition to the role of these amounts in the promotion of small businesses that achieve the objectives The expansion of the production process and the provision of services through the establishment of production units or services or workshops dedicated in different areas’.