Al-Abbadi Office announces the completed projects and confirms the securing of access to aid and loans under the best conditions

[yota691]

The government is succeeding in cutting public spending

07/8/2017 12:00 am      Baghdad / Al-Sabah   The government announced the projects completed and other projects in the final stages of achievement, confirming their success in reducing levels of public spending. This came with the success of extraordinary efforts in securing access to development aid and loans under the best conditions for Iraq.  "The government and the result of the financial crisis in Iraq due to the collapse of oil prices in world markets and their decline to unprecedented levels have forced this reality to follow the economic policies imposed by the crisis to meet the government's financial obligations towards the forces," a spokesman for Prime Minister Saad al-Hadithi's office said Sunday. Iraq and the requirements of the war on terrorism as well as towards about seven million citizens receive monthly salaries from the state and the amount of more than four trillion dinars per month, in addition to other financial commitments ».  He pointed out that «and in light of these urgent commitments, the government resorted to austerity policy and rationalize government spending and pressure the public expenditure of the country and succeeded in reducing levels of public spending to the proportions of 50 - 60 percent, and the government has succeeded in reducing dependence on oil imports and reduce its proportion in the budget To about 85 percent against the diversification of state resources and activating the role of many sectors in the budget of Iraq and work is under way to make further progress in this path ».  "At the same time, the government has dealt with the foreign aid and development loans provided by countries and international and regional financial institutions with a calculated policy in terms of ensuring that the Iraqi economy is not tied to financial commitments, high or long-term towards the providers of this aid and development loans."

[yota691]

Al-Abbadi Office announces the completed projects and confirms the securing of access to aid and loans under the best conditions

Release date: 2017/8/6 17:17 • 253 times read

(Baghdad: Al-Furat News) The Office of Prime Minister Haider al-Abadi announced the completed projects and other projects in the final stages of achievement, stressing that the government was able, with exceptional efforts to secure access to aid and development loans under the best conditions for Iraq and provided facilities from countries and donors.

The spokesman for Prime Minister Saad al-Hadithi's office said in a press briefing Sunday that "the government and the result of the financial crisis in Iraq due to the collapse of oil prices in world markets and their decline to unprecedented levels and oil imports accounted for 95% of total imports of the general budget As the current government assumes its responsibilities, it has been forced to follow the economic policies imposed by the crisis to meet the government's financial obligations towards the Iraqi forces and the requirements of the war on terror, as well as about seven million citizens who receive monthly salaries from the state, Exceeding four trillion dinars per month in addition to other financial obligations owed by the government to farmers and contractors, and spending on important sectors such as education, health , electrical energy and other basic services , as well as the humanitarian response in the displaced file. " 
He added " At the same time, the government has dealt with foreign aid and development loans provided by countries and international and regional financial institutions with a calculated policy in order to ensure that the Iraqi economy is not tied to high or long-term financial commitments to those who provided such aid and development loans. Development projects or services, and did not enter into the field of operating expenses, as well as employment to reform the structure of the state economy and the administrative and financial system in Iraq, the government was able to extraordinary efforts to secure access to aid and development loans The best conditions for Iraq and provided facilities from countries and donors that no country has ever received the same in terms of service ratio of the loan, which does not exceed 2% at the highest levels, and even some of them by half a percent and also in relation to the long repayment period, which reaches many Of which 20 years, as well as a grace period for repayment Up to five years, and has been used this aid and development loans in the best way as it was directed to achieve projects of a developmental or service type " He explained," As an example of this loan, which was used to finance many projects, which can be divided into three sections, Namely: 1 - Rehabilitation of the port of Umm Qasr for the Ministry of Transport and its completion in April 2016 increased the capacity of the port to double what it was, where the increase amounted to six million five hundred thousand tons per year and the cost of the project 235 million dollars. 2 - Irrigation and drainage of the water and the reclamation of thousands of dinars in the provinces of Wasit and Dhi Qar for the Ministry of Water Resources and completed on 22/12/2016 and the cost of the project about 83 million dollars. 3 - Rehabilitation of the first and third units at the electricity station Musayyib for the benefit of the Ministry of Electricity and completed in April 2016 and contributed to the increase of electricity production by 270 megawatts and the cost of the project about 320 million dollars. 4 - Construction of three bridges and roads in Al - Muthanna Governorate for the benefit of the Ministry of Housing and Construction and completed on 20/1/2016 and contributed to reduce the traffic momentum and service 720 thousand citizens in the province and the cost of the project more than 29 million dollars. 5 - Rehabilitation of Khor Al Zubair fertilizer plant for the Ministry of Industry and completed on 30/6/2015. In addition, the production of urea and ammonia fertilizer increased to 1600 tons per day. The increase is expected to reach 2000 tons per day at the end of this year. 6 - The project of building the electricity sector and improving the network in Kurdistan for the benefit of the Ministry of Electricity in the region, most of which was completed on 17/4/2016 and the cost of the project more than 128 million dollars. 7 - The project to improve water in Kurdistan for the benefit of the Kurdistan region completed on 31/5/2016 and contributed to the processing and improvement of drinking water in the provinces of the region and cost $ 298 million. 8 - Project design and engineering studies of the sewage network in Baghdad for the benefit of the Municipality of Baghdad and cost more than 18 million dollars. 9- Development of Basrah Refinery (Engineering Services) for the benefit of the Ministry of Oil to prepare designs and engineering services for Basrah Refinery, which cost more than 18 million dollars. "Al-Hadithi said," There are several other projects in the final stages of achievement, 1- Basrah Water Purification and Desalination Project for Basrah Governorate is expected to be completed by the end of this year. It aims to increase the quantity and improve the quality of the net water supplied to Basrah governorate and reduce the salinity rate at a cost of more than 373 million dollars. 2- The project of rehabilitation of the thermal power station for the Ministry of Electricity and the completion rate is 70% and is expected to be completed soon and at a cost of 176 million dollars and aims to increase the generation of electricity by 180 MW. The project aims to build a 200 bed hospital in Dhi Qar Governorate, furnishing it with medical equipment and housing for doctors. It also aims to prepare designs for seven other hospitals in a number of governorates. The cost of the project is $ 92 million . 4 - Construction of the crude oil export line for the Ministry of Oil to build a new pipeline of 75 km and 48 Ang and a single buoy with advisory services and aims to increase the export capacity of crude oil. 1.5 million barrels per day and the completion rate reached 86./. The cost of the project is $ 435 million. 5 - Construction of the Deir Lok electrical plant in Kurdistan aims to increase the production of electric power in the region by building a power station and transmission line with a secondary station in the province of Dohuk at a cost of about 148 million dollars. 6 - The project to improve the communications network in large cities for the benefit of the Ministry of Communications and aims to complete a communications system and a local access network in Baghdad with a maintenance center, is expected to be completed soon at a cost of more than 101 million dollars. Al-Hadithi pointed out that "there are other projects in the preparation and preparation of direct, namely: 1 - Rehabilitation of the electricity sector - Phase II - for the benefit of the Ministry of Electricity aims to improve the transmission network and distribution of electricity at a cost of $ 467 million. 2- The project of developing Basrah refinery for the benefit of the Ministry of Oil aims at building the crushing unit in the auxiliary worker with two hydrograph units. It will contribute to increase production by four million liters per day of oil derivatives. The cost of the first phase of the project is 369 million dollars. 3 - Port Rehabilitation Project - Phase 2 - Khoralzabir Port for the Ministry of Transport aims at rehabilitating the port of Khor Al Zubair by lifting the Guarq and drilling and rehabilitating the berths at a cost of $ 340 million. 4 - Construction of the sewage network in Erbil for the Kurdistan region at a cost of about 300 million 2- The project of developing Basrah refinery for the benefit of the Ministry of Oil aims at building the crushing unit in the auxiliary worker with two hydrograph units. It will contribute to increase production by four million liters per day of oil derivatives. The cost of the first phase of the project is 369 million dollars. 3 - Port Rehabilitation Project - Phase 2 - Khoralzabir Port for the Ministry of Transport aims at rehabilitating the port of Khor Al Zubair by lifting the Guarq and drilling and rehabilitating the berths at a cost of $ 340 million. 4 - Construction of the sewage network in Erbil for the Kurdistan region at a cost of about 300 million 2- The project of developing Basrah refinery for the benefit of the Ministry of Oil aims at building the crushing unit in the auxiliary worker with two hydrograph units. It will contribute to increase production by four million liters per day of oil derivatives. The cost of the first phase of the project is 369 million dollars. 3 - Port Rehabilitation Project - Phase 2 - Khoralzabir Port for the Ministry of Transport aims at rehabilitating the port of Khor Al Zubair by lifting the Guarq and drilling and rehabilitating the berths at a cost of $ 340 million. 4 - Construction of the sewage network in Erbil for the Kurdistan region at a cost of about 300 million 3 - Port Rehabilitation Project - Phase 2 - Khoralzabir Port for the Ministry of Transport aims at rehabilitating the port of Khor Al Zubair by lifting the Guarq and drilling and rehabilitating the berths at a cost of $ 340 million. 4 - Construction of the sewage network in Erbil for the Kurdistan region at a cost of about 300 million 3 - Port Rehabilitation Project - Phase 2 - Khoralzabir Port for the Ministry of Transport aims at rehabilitating the port of Khor Al Zubair by lifting the Guarq and drilling and rehabilitating the berths at a cost of $ 340 million. 4 - Construction of the sewage network in Erbil for the Kurdistan region at a cost of about 300 million

[skeetdog]

Thanks Yota....This all sounds like a country on a mission...One of their concerns should include how to pay for these 20 years loans...All these projects employee citizens that pay taxes and spend paychecks...With the rise of the private sector...that 85% oil dependence will drop even further....