Baghdad is seeking hosted by $ 500 million loan from the Islamic Bank
Baghdad is seeking hosted by $ 500 million loan from the Islamic Bank
10-09-2015 01:01 PM
Iraq is seeking $ 500 million from the Islamic Development Bank loans in Jeddah to assist in the expected deficit in the step coverage culminate in the return of the country to the international debt market.
it seeks Baghdad to raise up to six billion dollars through bond issuance series denominated in US dollars, the first for Iraq nine years ago to fund the salaries as well as infrastructure in the oil, gas, electricity and transport sectors projects.
authorizes the federal budget of the country for 2015, the Ministry of Finance requested additional funding from sources including the Islamic Development Bank.
She added that $ 225 million will be used in the development and renewal of major trade corridor linking Iraq to neighboring countries.
A spokesman for the Islamic Development Bank, said the bank had approved the funding in October 2013 and that he held talks with officials of the Iraqi government in May this year to discuss ways of cooperation.
He said ‘it is expected that supports the Islamic Development Bank Group public and private sectors through projects and trade finance. ‘
ikhnews.com
