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An international bank with a capital of $ 100 billion to finance Iraq's infrastructure


yota691
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2017/11/26 (00:01 PM)   -   Number of readings: 815   -   Number (4072)
 
 
An international bank with a capital of $ 100 billion to finance Iraq's infrastructure



 Baghdad / Zahraa al-Jassim 
 

About 15 years have passed since the change, but according to international reports, Iraq is still among the worst in the world in public life due to the deterioration of the public service system and the lack of infrastructure projects. In a move to improve the service reality, work is underway on the launch of an "investment bank" with capital up to 100 billion dollars, involving the foreign financial sector with the Iraqi government to finance infrastructure projects across the country, according to investment adviser, which confirms that the announcement is imminent. The economic expert described the matter as important to the development of the economic development process, stressing the need to merge all the specialized banks such as industrial and real estate and housing fund of the bank is expected to work to push the agricultural development, industrial and urban of the country.

The researchers know the term infrastructure of any country, which is the capital of society, that all institutions and technical structures that support the community and affect the security of citizens economic, scientific, health and service, such as schools, hospitals, roads, bridges, dams, stations, airports, factories, agricultural production and electricity,
Advisor to the Investment Affairs in the Council of Ministers Thaer al-Fili, says in an interview with (Mada), that the Council of Ministers is working on the establishment of an investment bank, or fund for development, the financing of all infrastructure projects and services of the state, which will be announced soon, adding: The bank will have international financing especially since many countries such as Japan, China, France, Malaysia, South Korea, Germany, Belgium, Canada and Italy have very large liquidity and will contribute to the financing of this bank. The amount currently proposed for launching this bank is $ 100 billion, These states, p Have very little part of the Iraqi state.
This project is an international commercial bank interested in building infrastructure projects in Iraq, such as sewage, roads, bridges, water, electricity and hospitals, in the sense that all state service projects are agreed to build. He adds: The important thing here is not only funding but management because the big problem in Iraq is not always funded, but is in the management of these projects from the moment of study of the project until its implementation in full, adding: and frankly that we in Iraq failed as a state in the management of these important projects and failed even in Studies, many of the Iraqi service projects have been studied weak and failed, at the time that the service projects need a set of studies, some of them need to study social and others need to study infrastructure, and some of them need traffic studies and technical studies also, in addition to economic studies and Tie these things we have failed.
Al-Faily also states that: The Iraqi state has failed even in preparing proper studies for important projects. Al-Saheeh says that when we succeed in studying a project, we prepare other engineering studies with the project designs, and here too we have not succeeded. To ensure its success, and even that we are in the implementation stage, we need contractors, whether local or foreign, but they are large and important to adopt these projects within the international standards adopted for them, but also that even in the post-construction phase we need maintenance that we are at the farthest About it today, where it failed The international community at present does not trust the Iraqi management experience to manage these projects. Therefore, when international companies and consultants enter the system of the Development Bank, we will find that countries are ready to finance and assist Iraq because it ensures the success of these projects. .
The adviser on investment: "This bank will not save money and give it to Iraqi companies and the State, but it will contribute and supervise the implementation of these projects, on the other hand, we also rely heavily on this bank, because it is a very large financial institution, as established in 1950s, called the Council of Reconstruction, has already succeeded in establishing important infrastructure projects in Iraq, so the current investment bank will be similar to him but with international funding to rebuild Iraq again.
And the reconstruction of infrastructure is a very necessary issue for Iraq as for economic and human development, and the establishment of such a fund or the bank is a very big step, according to the economist Majed Al-Soury in an interview with (range), which believes that Iraq is starting towards the loans that are employed in development, It is investment loans and not only for operational coverage, including the loan of 12 billion and 800 million dollars of British credit facilities. There are also investment funds all over the world that wish to participate in the process of rebuilding Iraq, especially in the field of infrastructure. Will provide The stack is very important for investment and at the same time will work on the basis of banking and this is also a very important issue for Iraq.
"But the problem is the basis in Iraq and everyone knows it is the management of these projects or this bank, if Iraq managed to manage this bank in real and right, it will be very important for the process of economic development and development, and if the administration is already under international supervision, this is something I think that all the specialized banks such as industrial, real estate and housing fund should be integrated into a development bank that can promote the agricultural, industrial and urban development in the country after securing the structure of the building. To the bottom.

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