World Bank lends Iraq $ 1.7 billion

[yota691]

 

World Bank lends Iraq $ 1.7 billion

 

Thursday July 2, 2015 08:58

 

 

 

 

 

Alsumaria News / Baghdad 
announced that the Ministry of Finance, the intention of the World Bank loan to Iraqworth $ 1.7 billion, as pointed out the allocation of $ 350 million of the loan within the reconstruction of the liberated areas of the organization "operations Daash . " the ministry said in a statement , seen by, Sumerian News , "The Finance MinisterHoshyar Zebari search, on Wednesday, with the Iraq Programme Director Robert existence and the World Bank team of experts and specialists in the economy and implementation of development programs, plans and programs of the bank to provide a loan to Iraq for humanitarian and development aid proposed. "

 

The ministry said that "due to the World Bank offers a loan of $ 1.7 billion," indicating that it is within the amount "billion as financing development policy loan (DPL), and $ 350 million for reconstruction and stability to the liberated areas of Daash, 350 million dollars for the project of Umm Qasr by - Basra. " She pointed out that "the government will take a series of reform measures in a number of economic facilities to avoid wastage and the rationalization of expenditure." The World Bank Group President Jim Yong Kim stressed, in (April 17, 2015), to support Bank full of Iraq in the face of economic and financial challenges, as pointed out that the bank will contribute to the financing of urgent projects related to the liberated areas, during a meeting with Prime Minister Haider al-Abadi. It is noteworthy that world oil prices have recently experienced a significant decline is the first of its kind in five years, which led to the damage the economic situation in many countries, including Iraq.
 

[haymon]

ChaChing..........

[yota691]

Zebari: The Iraqi government take economic reform measures to rationalize expenditure

Economy and tenders

 Since 07/01/2015 16:45 pm (Baghdad time)

Baghdad scales News

Finance Minister Hoshyar Zebari, said Wednesday that the government will take a series of reform measures of the economy in the number of facilities to avoid wastage and the rationalization of expenditure. "

According to a statement of the ministry received / scales News / copy of it, "Zebari search today at the headquarters of the ministry with Robert existence Director of the Iraq Programme and the World Bank team of experts and specialists in the economy and implementation of development programs, which included Auguste Kwame and Eric Aborn and Siebel Kolokza plans and programs of the bank to provide a loan for Iraq aid humanitarian and development proposed. "

The statement pointed out that "due to the World Bank provides loan worth $ 1.7 billion, of which US $ billion as a policy loan financing for development" DPL "and $ 350 million for reconstruction and stability to the liberated areas of Daash and $ 350 million for the project through Umm Qasr - Basra ".anthy 29 / d 25

[sandfly]

THANKS

[tlars brother]

no loan without new monetary value....note it says "take a series of reform measures".....

[yota691]

 

02/07/2015 14:11

World Bank lends Iraq $ 1.7 billion

 

 

 

The government will take a series of reform measures in a number of economic facilities to avoid wastage and the rationalization of expenditure.

BAGHDAD / Obelisk: The Ministry of Finance, the World Bank's intention to provide a loan to Iraq worth $ 1.7 billion, as pointed out the allocation of $ 350 million of the loan within the reconstruction of the liberated areas of the organization "Daash" operations.

The ministry said in a statement, seen by, "obelisk", "The Finance Minister Hoshyar Zebari search, on Wednesday, with the Iraq Programme Director Robert existence and the World Bank team of experts and specialists in the economy and implementation of development programs, plans and programs of the bank to provide a loan for Iraq and humanitarian aid The proposed development. "

The ministry said that "due to the World Bank offers a loan of $ 1.7 billion," indicating that it is within the amount "billion as financing development policy loan (DPL), and $ 350 million for reconstruction and stability to the liberated areas of Daash, 350 million dollars for the project through Umm Qasr - Basra. "

She pointed out that "the government will take a series of reform measures in a number of economic facilities to avoid wastage and the rationalization of expenditure."

The World Bank Group President Jim Yong Kim stressed, in (April 17, 2015), the full Bank of Iraq support in the face of economic and financial challenges, as pointed out that the bank will contribute to the financing of urgent projects related to the liberated areas, during a meeting with Prime Minister Haider al-Abadi.

The world oil prices have recently experienced a significant decline is the first of its kind in five years, leading to damage to the economic situation in many countries, including Iraq.

[yota691]

 

 

Zebari and a delegation from the World Bank

Zebari discuss with the World Bank providing a loan of more than a billion dollars to the liberated areas and reconstruction of Umm Qasr by

 

Author: AHF, BS 
Editor: AHF, BS 1/7/2015 16:50 Number of Views: 1274 

 

Long-Presse / Baghdad

 Search Finance Minister Hoshyar Zebari, on Wednesday, with the Director of the Iraq Programme and the World Bank team line and programs of the bank to provide a loan for Iraq, and with the ministry showed that the loan would be worth more than a billion dollars specializes in part for the reconstruction of the liberated areas of (Daash), confirmed that the government It will take remedial action to avoid waste and save money.

The Finance Ministry said in a statement received (range Press), a copy of "Finance Minister Hoshyar Zebari search today, with Mr. Robert existence Director of the Iraq Programme and the World Bank team of experts and specialists in the economy and implementation of development programs, which included Mr. Auguste Kwame and Mr. Eric Aborn and Ms. Siebel Kolokza plans and programs of the bank to provide a loan to Iraq for humanitarian and development aid and proposed. "

The statement added that "due to the World Bank offers a loan of $ 1.7 billion, of which US $ billion as financing development policy loan (DPL) and $ 350 million for reconstruction and stability to the liberated areas of Daash and $ 350 million for a project of Umm Qasr by - Basra" .

The statement continued that "the government will take a series of reform measures of the economy in the number of facilities to avoid wastage and the rationalization of expenditure."

The Parliamentary Finance Committee confirmed, in the April 30, 2015, they are passed to the government borrowing to fill the budget deficit and meet the necessary requirements under the state of war with "terrorism", and as pointed out that Iraq will receive a value of three billion and 400 million dollars of IMF loans and the World Bank, revealed a tendency to privatize Almtovqh government projects are viewing investment.

The World Bank has revealed, in the April 29, 2015, his quest for financing development projects in the areas of restored Iraqi forces from militants (Daash), returned to economic growth as an important part of the solution to political problems "plagued the region." 

The estimated funding sources in Article III of the budget bill for 2015 of $ 6,168,040,000 dinars, this amount is used to cover the budget deficit and pay premiums internal and external loans and turn off the internal debt, and extinguish the euro bonds, and extinguish religion's central bank bonds.

Iraq complain of weak financial revenues due to declining oil prices and increased expenses, which the military side came on her head, which made the government resort to austerity as one of the solutions adopted to cope with the economic situation of the country which.

International Monetary Fund forecast, in 21/03/2015, high budget deficit in 2015 to more than the 12 percent rate announced by the government, to "significantly higher levels", because of lower oil prices and the weakness of the possibility of Iraq's commitment to export 3.3 million barrels per day, also assume the budget, it proposed the implementation of reform measures include strict austerity in investment projects, and a commitment to reducing expenses, and the revision of the maximum limits of central bank sales of the currency, referring to the overall growth contraction, and the prospect of rising inflation slightly the end of this year.

 

[MyLadiesDaddy]

now why would you loan someone with a hundred billion dollars in reserves that kind of money?

[Officiallytook]

Suddenly!!!!

[Wiljor]

now why would you loan someone with a hundred billion dollars in reserves that kind of money?

Establishing a credit rating LGD, and why use your own money when you can get it from someone else. By the way, thats a lot of Dinars.

[yota691]

Iraq reveals the last card to borrow from the World Bank to cover the deficit

02/07/2015 06:16 | Number of Views: 1056

Font size:  

Press direction / special

Despite the government's attempt to overcome the financial crisis Abadi, following the austerity regime and reducing investment expenditure, but the deputies and experts in economic affairs confirmed that the country is suffering from a severe financial crisis it can not be avoided, but to borrow.

He says the parliamentary Finance Committee member Jabbar Obeid that "the current government in a critical financial situation. It is now in front of difficult choices in the oil market has not seen a rise in the near term, may resort to the option of borrowing from the World Bank, which does not have in front of the government to solve one else," explaining that "the process borrowing from the World Bank is not as easy as it believes are other, where Iraq will have to meet the lending conditions and the payment of financial benefits, but it certainly will ease the ratio Agr in the budget. "

At the same time economic expert Osama sweet stressed that "Iraq may be forced to borrow from the World Bank to finance the budget by providing development loans," noting that "borrowing from the World Bank is the last solution for the government because they have an resources other than oil, low prices now."

 

For his part, Chairman of Virtue Bloc Ammar Tohme stressed the possibility of relying on the central bank to offset the lack of revenue in the budget instead of borrowing from the International Monetary Fund, noting that the external coupling harsh conditions of the loan and interest accumulate annually add another burden on the domestic economy of the country.

 

Said Tohme "The central bank can contribute to tackling the financial crisis by withdrawing amounts from the reserve balance of the amount which does not affect the stability of the local currency to be able to by those amounts of make up the shortfall in revenue and avoid external borrowing," stressing "the need to discourage borrowing external and internal sources to resort to the solution of the economic crisis experienced by the country.

 

He bloc president that "the application submitted to the International Monetary Fund to collect the loan by $ 800 million could be collected by drawing from the reserve an amount that does not constitute effects or economic damage if it has been withdrawn from the Central Bank", noting that "the possibility of avoiding external borrowing conditions accumulated and benefits that may cause repayment of the value of the loan crisis, rather than make up the shortfall crisis ".

According to the Iraqi Ministry of Finance said Thursday that Iraq Siqtrd $ 2.3 billion from the World Bank in an effort to bridge the country's budget deficit and the expenses of the war against Daash.

The ministry said in a statement followed the "Press direction" is due to the World Bank of Iraq provides a loan of $ 1.7 billion, of which US $ billion as financing development policy loan ( DPL).

She said the World Bank will lend Iraq $ 350 million for reconstruction and stability to the liberated areas of "Daash" and $ 350 million for the project through Umm Qasr - Basra south of the country.

 

The ministry noted that the Iraqi government will take a series of reform measures of the economy in the number of facilities to avoid wastage and the rationalization of expenditure.

The ministry said a meeting was held today between Finance Minister Hoshyar Zebari and Robert existence Director of the Iraq Programme of the World Bank and a team of experts and specialists in the economy and implementation of development programs included Auguste Kwame and Eric Aborn and Siebel Kolokza.

The meeting discussed the plans and programs of the bank to provide a loan to Iraq for humanitarian and development aid proposed, according to the financial statement.

Just prepare Serail

[Freedomrules]

Because Its not the GOI's money.  The CBIs foreign reserves could be loaned to the Goi but it does not belong to them. The CBI is independent

 

Thats like saying the Feds money is the US governments money. It's not

[yota691]

Experts are preparing for asylum government loans and projects futures drain on the wealth of generations

04/07/2015

 
 
BAGHDAD / JD / .. after the worsening financial crisis and not to put radical solutions to diversify sources of national income, especially when the continuing decline in world oil prices, the Iraqi government began to think to resort to temporary plans to provide them with funds to implement some of the projects and bridging the financial Ezz made ​​in the federal budget, where resorted Government Federal to use the World Bank to get a financial loan estimated at $ 1.7 billion and two billion more will be awarded in the coming period, as well as opening negotiating channels with international companies to persuade them in the implementation of service projects and infrastructure in Iraq in a way payment on credit over the past 20 or 40 years coming under the terms and privileges to those companies. 
A number of experts and specialists has been counting this move as the depletion of national wealth sovereign generations and a waste of public money, warning of the increasing burden on the state and impose economic sanctions on Iraq in the future in the event of his inability to repay financial debt. 
He says a member of the Finance Committee MP capable of Mohammed that "due to the worsening financial crisis and the decline in the proportion of revenues due to lower oil prices and increase the budget deficit the government reportedly began thinking to fill this quotient in the budget shortfall through resort to international loans or implement projects on credit. 
He said Mohammed told / JD / "The government represented by the Ministry of Finance asked for a financial loan from the World Bank last and the granting billion and $ 700 million and will provide another loan of two billion dollars in the coming period. " 
He added, "The Ministry of Finance contracted with Japanese companies for the implementation of infrastructure projects in Iraq in a way payment on credit up period paid 40-year-old, "he said, adding that in spite of Iraq's need for these loans and companies, but the multiplication of which will increase the burden on the financial state should read the future economic vision for the country before taking such steps." 
The Finance Minister Hoshyar Zebari said earlier that "the government intends to raise funds emergency through sales from the reserve of the Basra oil through the payment system in advance for the first time, and begin economic reforms to amend the oil contracts with major Western companies. " 
And that has not yet amounts details and the value of these sales, known in the oil industry pre-funding is determined but Iraq need liquidity to finance the military campaign against Daash To compensate for revenue lost because of falling world oil prices. 
He said Zebari said Baghdad also plans to change the way it manages contracts for exploration and production with oil companies such as Royal Dutch Shell, BP and Exxon Mobil. 
For his part, economist Abdul Hassan Shammari government had resorted to international loans and projects futures as a step to drain the national sovereign wealth for future generations, stressing that it will make the country exposed to significant economic setbacks as a result of these loans. 
Al-Shammari told / JD / "There is a wrong planning of the Iraqi economy by those officials for the file economic and financial in the country where Atk resorting to the prosthesis solutions and increase the suffering of the Iraqi economy instead of resorting to drastic solutions to the economic crises by activating the vital and productive sectors to diversify the sources of financial state and lack of dependence on oil. " 
He added that the government contract with Japan to implement futures projects holds time bombs deliberately putting the Minister of Finance to target the Iraqi economy being working for nationalism, not patriotism. 
He called on the government to reconsider the agreement with the Organization of Jamaica Japanese to implement projects worth more than $ 700 million in order to avoid economic problems will fall by the future Iraqi government, "stressing the importance of developing radical solutions for the advancement of the national economy. 
The Finance Committee member of the parliamentary Sarhan Ahmed, stressed that Iraq is going through a financial and economic major crisis, as a result of lower oil prices, and the lack of a clear economic strategy of the government. 
Ahmed said "the tragic situation of Iraq require external borrowing in order to satisfy winning in the budget shortfall, "noting that" the budget for the 2015 deficit close to 25 trillion Iraqi dinars, "pointing out that" set policy in the budget law is to give borrowing the Minister of Finance of the World Bank and the International Fund and the Islamic Bank for the purpose of bridging the lack validity. " 
and between "The borrowing money will go to all of Iraq's ports, which need to be spent, including the displaced and the salaries of the security forces that fight Daash and other projects." 
The Finance Minister Hoshyar Zebari, signed with a delegation from the Organization of [JICA] Japanese financing for projects in Iraq worth $ 735 million notes. 
The first loan project to reconstruct the electricity sector [second stage] in the amount of $ 450 million, while the second loan the sewer reconstruction project in the Kurdistan region of $ 285 million. / end / 8 /

[MyLadiesDaddy]

Suddenly!!!!

Some very insecure and little person gave you a ruby for this comment.

 

I've noticed that a lot recently, guess they can't figure out that we got 

 

​plenty of  emeralds to go around.        

[Boozer]

Wonder how this will play out in Oct when the IMF makes China  one of the new reserve currency

[NoviceInvestor]

now why would you loan someone with a hundred billion dollars in reserves that kind of money?[/quote

I agree LGD if I had their kind of money there is no way I'd even want to borrow.. But I am beginning to think that the dinar will never revalue .. I haven't got enough to wall paper the toilet but I do have enough to make interesting framed artwork as I continue on the treadmill of life counting my humble blessings ...

[yota691]

$ 1.7 billion World Bank loan for Iraq

 

 

         

7/5/2015 0:00 

BAGHDAD joy pumice 

World Bank plans to provide loans to Iraq totaling $ 1.7 billion in development loans without specifying the projects to be financed, what contribute to the reconstruction of the liberated areas of the gangs "Daash" terrorist. It confirmed the Ministry of Finance said in a statement the "morning" received a copy of the World Bank will provide loans to development of Iraq, under the circumstances faced by the country from the drop in oil revenues in charge of against terrorist attacks and military campaign, as it will use a loan of $ 350 million to rebuild the province of Diyala areas and the region surrounding the city of Tikrit, which was recovered three months ago, and will be allocated another $ 350 million in financing through a project linking the city of Basra in the south of the country or the port of Qsr.oppema regard, said the economist d. Majid picture "morning": that "the loans provided by international institutions usually be accessible and be within the agreed terms between the two sides." He added the picture that "the budget law and to fill therein deficit text on the need to resort to internal borrowing or external, especially as the country is going through an exceptional situation is unprecedented in being subjected to terrorist attacks by "Daash" gangs and occupation of areas of land that needs to finance military operations and reconstruction in the liberated areas. The expert considers that these amounts will lead to overloading of the country foreign obligations, promised "necessary means" to fill the budget deficit , along with the country's need to finance development projects, through facilities provided by external funding institutions. He also expressed hope in the implementation of these projects within a specific plan, and that the projects are outside the framework of the political bickering and bureaucracy, urging at the same time on the application of the law of financial management and public debt correctly and follow good governance in the money Alarac.tjdr noted that Iraq reached a month ago an agreement with the International Monetary Fund on a loan program worth $ 833 million, to contribute to the bridging of the general budget's deficit by about $ 25 billion, also plans country to issue bonds with five billion dollars to cover part of this deficit.

[yota691]

07/04/2015 (00:01 pm)   -   the number of readings: 373   -  number (3402)

 

 

Expert calls for the government to cooperate with the World Bank and the IMF to "adjust the Iraqi economy."

BAGHDAD / Amer Mohi 
 

, Confirmed the investment committee and the economy parliamentary, on Friday that Iraq is forced to borrow money from international institutions because of the financial crisis as a result of lower oil prices, while confirming that the investment projects will be completed only by borrowing, an expert in the matter of economic called on the Iraqi government to " Go to the international community and a commitment to its criteria out of the crisis, noting that "cooperation with the World Bank and the IMF provides an opportunity to adjust the economy and the general budget and external account.

 

He said committee member economy parliamentary Najiba Najib told the "term" that "the Ministry of Finance took the legitimacy to take loans from the International Monetary Fund and the World Bank under the federal budget for 2015, but it has the right in this matter," asserting that "Iraq choosers him only borrow to be able to implementation of its projects. " 
She said Najib that "borrowing in Iraq is happening now two types, the first to borrowing for investment projects which got through to borrow $ 1.7 billion by the Ministry of Finance and this is its benefit to the Iraqi economy because it would in the future be of benefit." 
It showed that "Iraq sometimes borrow for consumption and this is not useful, because the money Almkarodh go without any interest, and this thing is with the drop in oil prices and the need for Iraq to money to cover wars and salary expenses." 
She pointed out that "the problem is the need for Iraq to 5 billion per month for salaries of staff, as well as employment in every year, reaching appointments to 60 thousand degrees in the Oil Ministry, with the knowledge that there is a large surplus in most of the ministries. " 
confirmed member of the Committee that "the other problems facing Iraq, the battle against al-Daash, as well as the control of the organization Daash the Baiji refinery, which constitutes a large percentage of Iraqi oil and the things that has made ​​Iraq borrow to fill the need for projects or consumption. " 
She suggested Najib said "be there for the Iraqi economy a real plans Unlike previous years, which saw lethargic in energy projects or the economy, because Iraq in the event does not have such projects, the economy would go down and continue to borrow as oil prices remain at this price. " 
For his part, says an expert on economic affairs Maitham coffee in a statement to the "long", "World Bank loans are usually accessible from in terms of benefits and times of payment, in addition to it it is Grod development and for the reconstruction and construction. " 
He added Laibi by saying that "in Iraq in light of the budget crisis, it need such resources, especially as the investment budget semi-parked, and that these loans are usually conditional to conduct a series of reforms in the field of rationalization of expenditure and financial management. " 
He continued, head of banking and finance at the University of Mustansiriya that "Iraq needs to go back to the international community and a commitment to its criteria to get rid of emergency crises, especially as the Bank and the Fund and cooperation with them provides an opportunity for Iraq to adjust its economy and its budget and account outside, the Bank also has the expertise and allows the provision of studies represent an early warning of the economic system. " 
The Ministry of Finance, the first of Thursday, the World Bank's intention to provide a loan to Iraq worth $ 1.7 billion, as pointed out the allocation of $ 350 million from within The loan to the reconstruction of the liberated areas of the organization "Daash operations." 
the ministry said in a statement that "Finance Minister Hoshyar Zebari discussed with Iraq program manager Robert existence and the World Bank team of experts and specialists in the economy and the implementation of development programs, plans and programs of the bank to provide a loan for Iraq humanitarian and development of the proposed aid. " 
She added that "due to the World Bank offers a loan of $ 1.7 billion," indicating that it is "within the amount billion dollars as international policy and $ 350 million for reconstruction and stability to the liberated areas of Daash loan, and 350 million dollars for the project through Umm Qasr - Basra. " 
She pointed out that "the government will take a series of reform measures in a number of economic facilities to avoid wastage and the rationalization of expenditure." 
The World Bank Group President Jim Yong Kim has said, in the (April 17, 2015), support full Bank of Iraq in the face of economic and financial challenges, as pointed out that the bank will contribute to the financing of urgent projects related to the liberated areas, during a meeting with Prime Minister Haider al-Abadi.

Read more: http://dinarvets.com/forums/index.php?/topic/205088-expert-calls-for-the-government-to-cooperate-with-the-world-bank-and-the-imf-to-adjust-the-iraqi-economy/#ixzz3f2XQdyOh

[yota691]

 

Abadi economic adviser: no fear of international borrowing

 

      Monday   06   July   2015 | 14:43

 

 

 

Iraq had previously twice borrowed from the Bank and the IMF and there was repayment of a large part of it

 

Loans provided by international institutions usually be accessible and be within agreed between the two sides Terms

 

 

Qurtas News / Baghdad

Reduce prime minister for economic affairs adviser appearance of Mohammed Saleh, Monday borrowing fears and the International Monetary Fund, returned to the country resort to borrowing after the check is in the budget deficit.

Saleh said for "Ply News", that "Iraq had previously borrowed twice from the Bank and the IMF and there was repayment of a large part of it," pointing out that "the loans provided by international institutions usually be accessible and be within agreed between the two conditions."

He stressed Saleh said that "the budget law and fill contained deficit text on the need to resort to internal borrowing or external, especially since the country is going through an exceptional situation is unprecedented in being the terrorist attacks by Daash and occupation gangs areas of land needs to finance military operations and reconstruction of liberated areas ".

Saleh and that "there is no fear on external borrowing, particularly that Iraq would not borrow from the international community banks where it impose significant benefits and obligations, but will go to international institutions and already deal with it and knows the nature of the conditions and obligations and its ability to repay."

It should be noted that Iraq had reached a month ago an agreement with the International Monetary Fund on a loan program worth $ 833 million, to contribute to the bridging of the general budget of around $ 25 billion deficit, also plans country to issue bonds at five billion dollars to cover part of this deficit.

 

[yota691]

World Bank agrees to provide financial assistance to Iraq worth $ 350 million

Economy and tenders

 Since 07/09/2015 17:11 pm (Baghdad time)

 

 

Follow-up scales News

The World Bank announced on Thursday, it agreed to provide financial aid worth $ 350 million to support rebuilding the infrastructure in Iraq, and between that part of the expanded program is implemented for five years in the provinces of Salahuddin and Diyala aid.

The World Bank said in a statement seen by / scales News /, said that "the World Bank Board approved a package of financial aid worth $ 350 million to support rebuilding the infrastructure in Iraq and to restore public services and put the economy on recovery in areas receded by conflict path."

The bank added that "the emergency Iraq operations for development aims to respond to the crisis caused by the security situation and the sharp drop in world oil prices," adding that it "part of the expanded program will be implemented for five years in the two affected provinces of Salahuddin, Diyala and in the seven cities of Tikrit and the role and Dhuluiya, Scientific and Jalawla and Saadia and great. "

For his part, he said the World Bank for the Orient manager Farid Belhaj, said that "this challenge of great practical importance where the bank will play its role fully accept the risk associated with the situation fragile", stressing said "The project focuses on the immediate improvement of basic services in areas in areas destroyed needs Because of the conflict and improve the relationship between the citizen and the state through the vital participation ".

The world oil prices have recently experienced a significant decline is the first of its kind in five years, leading to damage to the economic situation in many countries, including Iraq. ended / 29 / d 24

[yota691]

World Bank logo

World Bank lends Iraq $ 350 million for the reconstruction of the liberated areas

 

Author: AHF, HAA 
Editor: AHF 7.9.2015 17:51 Number of Views: 1306 
 

 

 

Long-Presse / Baghdad

Endorsed the World Bank, on Thursday, a new project for Iraq aimed at reconstruction and rehabilitation of infrastructure destroyed by conflict in the country and the restoration of services in the government-controlled areas, and among the assistance program of $ 350 million, confirmed that the program is part of a larger program will be implemented within five years in the provinces of Salahuddin and Diyala.

 The World Bank said in a statement received (range Press), a copy of which was "approved a new project for Iraq aimed at the reconstruction and rehabilitation of infrastructure destroyed by conflict in the country and restore public services in the municipalities under the control of the central government."

He said the bank "will contribute financial assistance program of the $ 350 million, which was approved by the Board of Executive Directors of the World Bank today, in support of Iraq's efforts seeking to rebuild state institutions and the economy back to the path of growth in areas where conflict has wound down."

The World Bank explained that "Iraq emergency development process designed to address the economic crisis caused by the security situation and the sharp decline in world oil prices, which is part of a larger program will be implemented over five years in the provinces of Salahuddin and Diyala Almtotrtin conflict and which carry the seven cities (Tikrit and the role and Dhuluiya and science and Jalawla and Saadia and great).

According to the World Bank statement, "the project in the first year will support the repair and rehabilitation of electricity and water and sanitation networks were damaged as well as roads and bridges efforts. It will also support health care services through hospitals and mobile clinics, medical equipment, ambulances and support."

The bank pointed out that "the project will also be planned for the reconstruction of houses destroyed during the armed conflict, building design, Such activities help to build trust between the citizen and the state and the provision of local jobs."

The statement quoted the Regional Director for the Middle East at the World Bank Farid Belhaj as saying that "this process of motivational and very important is the bank's turn to accept fully the risks arising from the situation in a fragile environment."

Belhadj said that "the project focuses on the immediate needs and improve critical services in areas worn down by conflict as he also builds on the development of sustainability over the medium term, which can be powerful institutions that provided by, as the project aims to improve the relationship between the citizen and the state by strong participation".

The World Bank noted that "the recovery strategy pursued by the Iraqi government is working on the resumption of basic services and rehabilitation of critical infrastructure in the areas where the conflict subsided, and will ensure continued close coordination that funded activities benefit the areas expected to return to internally displaced persons."

The statement quoted Ibrahim Dajani, Officer of the operations of the World Bank and the project team work as saying that "Iraq's enormous development needs and we work very closely with our counterparts in dealing with these needs," noting that "this project is the foundation and pave the way for the agenda of the development of the medium and long term, which cover several sectors such as health, housing, transport corridors and urban development. "

The statement continued that "the Board of Executive Directors of the bank today also discussed the review of performance and benefit from the experiences of the existing strategy on Iraq, as this report is a metaphor for the process of assessing the stage during half-term strategy for the World Bank Group extended the fiscal years 2013-2016."

The World Bank said that "the World Bank Group in the Iraq Programme performance will be evaluated and to do by proposing amendments inspired by the new challenges facing the country such as the review of the pillars of the strategy, and to extend the period of implementation of the strategy another year, and rescheduled loan program for Iraq to meet the emerging needs of the government."

[SnowGlobe7]

anyone who says nothing is happening in Iraq is not reading yodas posts....

 

the IMF would not lend this amount of money to a country in the toilet with no chance of paying it back...just my opinion

[Officiallytook]

Exactly...follow the money and you will make some too