Quick on two loans to Iraq for reconstruction and budget support

Quick on two loans to Iraq for reconstruction and budget support

2/5/2015 0:00

The World Bank in a seminar attended by {morning} declares:
Baghdad – just Hammoud – Shokran Fatlawi
centered economic seminar held by the World Bank in Baghdad and attended by the “morning” about overcome the current liquidity crisis and how they can which provide optimal support for Iraq and taking into consideration the priority to rebuild areas liberated strapped in services and problems in the housing, and held in the presence of World Bank Vice President for the Middle East and North Africa Hafez Ghanem, a large number of experts, researchers and those interested in economic affairs.
budget support
and said World Bank Vice President Hafez Ghanem, to the desire of the bank to work with Iraq in support budget, explaining the mechanism of this support through the provision of loan is repaid during 35 years with five years of additional allow an interest rate up to 1.5 percent only making it one of the soft loans in terms of the conditions and facilities compared to what provided by banks and private institutions.
He said Ghanem said the agreement concluded to give Iraq The first two loans of quick loans to support the reconstruction and provision of services to areas liberated process and expressed the hope that the private this loan, ready funding be during the month of July of this year, as will be allocated second loan to support the budget and will determine the amount and the mechanism of payment in accordance with the actual need of the country for the loan.
repay the loan
confirmed World Bank official Iraq’s ability to take advantage of this loan and repaid on time especially as he is a rich country has the resources and good things what makes it worthy to pay it, pointing to the possibility of the development of agricultural, industrial and service sectors as well as the attributes of the oil wealth, not to mention the importance of regional and international noting that all the foregoing position to build an economy and institutions have a positive impact on the entire region.
Infrastructure
and the reality of the private sector, local Ghanem two things hamper to some extent the World Bank’s activities to assist in the development of this sector, the first security problems in some areas accompanied by poor infrastructure necessary for private sector projects, noting that the role of the Bank is to invest in infrastructure and the financing of various projects in this aspect Mrtiaa The development of the country will get through the development and private sector development. And between Ghanem readiness of the bank to work on the development of areas affected by the problems in infrastructure and a rise in the unemployment rate, pointing out that the basis of their work is centered in areas that suffer from problems in order to prevent aggravation.
reconstruction of liberated areas
and concluded Ghanem on to say, that the loans provided by the World Bank to Iraq has achieved some of its objectives, adding it was too early to say that it has achieved its full objectives such as economic growth and employment and to promote stability in the country, pointing out that the meetings held in the past two days between each of the Ministers of Finance and Iraqi Planning and representatives of the World Bank is to show the progress of work in accordance with the how the right economic and priorities supported by the World Bank and “if we can not support these priorities of what we came to Baghdad and we held meetings with the Iraqi government,” which floated the idea of borrowing from the bank to bring life liberated areas emerging from terrorism and to work on the development of the private sector in Albuld.okan Ghanem met with officials and discussed with them the mechanics to take advantage of the loan in the reconstruction of the liberated areas, as well as search Bank support for the establishment of development projects in the whole of Iraq.
The prime minister d. Haider Abadi, the World Bank has called for work with the provinces of Basra, especially for development and reconstruction, and between that Iraq wants to build a healthy economy depends on the strategic vision far.

alsabaah.iq