Iraq, China and World Bank News - - >>>

[airam]

Iraq, China and World Bank News - - >>>

Article is translated so may have errors...

(Voice of Iraq) - in order to bridge the deficit in 2010 budget
BAGHDAD - morning
Iraq signed yesterday with the World Bank loan agreement worth $ 250 million shortfall in the budget for 2010.

The agreement was signed by the Iraqi Finance Minister Baqir Jabr Al-Zubaidi, and the World Bank representative in Iraq, John Michel.Zubaidi said at a news conference after the signing ceremony that the duration of the loan 15 years, including a grace period of 5 years. He said he will start to repay the loan semi-annual installments during the period 2014 to 2024.
He explained that the government will use the loan to finance the deficit in the general budget for 2010 and will be available to the Ministry of Finance during a short period after the signing of the Convention.He said al-Zubaidi to receiving an invitation from the Chinese side to attend the signing ceremony of extinguishing 8 billion dollars worth of Chinese religion in Iraq after the approval of the State Council, China's debt forgiveness, noting that the Iraqi delegation will travel to China next week to sign the agreement.
For his part, the representative of the World Bank loan was approved by the Board of Directors of the World Bank and the twenty-fifth day of last February, the first loan request loans from Iraq. "The World Bank does not ask for any guarantees in return for this loan, because Iraq is one of the founders of the World Bank .

http://www.sotaliraq.com/iraqnews.php?id=60211



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[IcemanSC]

Thanks for the post.