World Bank lends Iraq billion and $ 485 million

World Bank lends Iraq billion and $ 485 million

12/21/2016 9:10

World Bank lends Iraq billion and 485 million[Where – Follow – up]
World Bank said it approved a new loan of 1.485 billion dollars to help Iraq to alleviate the weak oil prices on the economy and bear the cost of the war against Daesh terrorist gangs.
The bank said in a statement that the new loan brings the total financial assistance from the World Bank for Iraq to about $ 3.4 billion.
The Bank approved two loans worth $ 1.2 billion and $ 350 million to support Iraq in 2015.
The World Bank said that the new loan aims to support the Iraqi government ‘s efforts to rationalize spending and to improve energy efficiency and enhance corporate governance in the SOEs.
Daesh war and led to the displacement of about 3.4 million Iraqis and caused losses of as much as Prime Minister Haider al – Abadi value of about $ 35 billion.
In July , the IMF approved a new loan agreement conditional on a three – year , $ 5.34 billion to support the efforts of Baghdad to overcome the weakness in oil prices and to ensure its ability to meet its debt burden.

alliraqnews.com