Kuwait calls on countries participating in the conference to rebuild Iraq to fulfill their obligations

[Pitcher]

https://www.voanews.com/a/voa-interview-un-chief-antonio-guterres/4254897.html

[King Bean]

The "integrity commission" will form a high level committee. Look at THAT !! Already positive impact from the Kuwait Conference. Adding another dozen or so to the government (bloated) commission payrolls, eat up those loans, maybe come back with outstretched hands for a Saudi Conference, then a Jordan Conference, then a UAE Conference, then an Icelandic Conference, then a Romanian Conference, then ..................

                            

Edited February 15, 2018 by King Bean

[newbieDA]

Flooding the Iraqi dinar and stopping the auction is the only solution for the Iraqi economy

Thursday 15 February 2018

 

Majid Al - Turaihi

 

In light of the results of the Kuwait Conference, which is not encouraging in solving the Iraqi economic problem, especially after the destruction resulting from the war on terrorism, we must think about radical solutions and benefit from the experiences of other peoples

I would like to refer to the experience of two countries at the present time, which is the experience of poor Egypt and the experience of the Venezuelan oil-rich country

The experience of the sister banker float the Egyptian pound in 2016, which produced my results after only one year of floating the first year float .. Egypt stronger "in numbers" after the liberalization of the exchange rate .. Cash reserves jump from 19 to 36.5 billion dollars .. And 56 billion dollars to save Imports, 13.7 billion dollars in surplus payments and 17.3 percent increase in foreign transfers

 

Floating currency "means an exchange rate against the dollar or any foreign currency away from any intervention of the government or the central bank in determining its price, and its value is linked to supply and demand

Yes, the flotation of the Egyptian currency led to a decline in the price of the pound against the dollar from about 9 to 17, but the state still provides the necessary materials and medicines to the citizens and did not increase the proportion of poverty knowing that Egypt imports most of its oil needs from abroad,

The second example is the state of Venezuela, which is very rich in oil and is now on the brink of bankruptcy, where its economy is run in a similar way to what is happening in Iraq at present. The currency of Venezuela is now 3 exchange rates, according to the exchange rates of the central banks, the price on the black market, In exports with a large corruption in the work of the central bank

Iraq is undoubtedly on the Venezuelan example, if not taken radical reforms similar to what took place in Egypt with a big difference to the Iraq and Iraq Huan oil revenues from the export of oil in December 2017 from $ 4-6 billion means about 76 billion dollars per year

The desired benefits of floating the transaction with some of the procedures are similar to what Egypt has taken with a transparency
The central bank's reserves will increase by up to $ 40-50 billion in one year (the central bank's reserves could increase by more than $ 16 billion in one year). This amount will enable the start of major projects for energy, water desalination, agricultural projects, construction of hospitals and factories and through international companies. And will pay the price of these projects of oil imports without waiting for the foreign investor and this process will provide hundreds of thousands, but millions of job opportunities for unemployed Iraqis (foreign investor will go to foreign workers as often as with oil companies) and the foreign investor even if it comes in time The present will benefit from the auction sale of the current currency and the result is damage to the Iraqi economy, as is the case with mobile phone companies, but in case the suspension of the auction will affect the interest of Iraq, even with the foreign investor

What is the potential damage in the case of Float
Of course, there is a danger of a decrease in the Iraqi currency, but for employees whose income is not more than $ 1000, the damage will be limited and at the beginning only and only for the value of procurement of luxury materials, but will be met by the improvement of electricity, hospitals, medical devices, medicines, roads, water and credit card. There is the possibility of getting more members of the family more Of jobs. But when the economy, farms and factories of Iraq begin to circulate, the decline of the currency will be an old story

This process can reduce rampant corruption and imaginary companies and it is possible that the Iraqi economy will turn into one of the largest developing economies

In any case, it is possible to refer to the sale of the currency a second time after a year or two if he did not write this process success and I do not think that and ask the people of Egypt

 

https://translate.google.com/translate?sl=ar&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=https%3A%2F%2Fkitabat.com%2F2018%2F02%2F15%2F%D8%AA%D8%B9%D9%88%D9%8A%D9%85-%D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D9%88%D9%88%D9%82%D9%81-%D9%85%D8%B2%D8%A7%D8%AF-%D8%A7%D9%84%D8%B9%D9%85%D9%84%2F&edit-text=

Edited February 15, 2018 by newbieDA

[Spider]

IN National

Iraqi might reject loans offered during Kuwait conference:

 

Source by  Nehal Mostafa 

 

Feb 15, 2018, 1:02 pm

 

Baghdad (IraqiNews.com) An informed Iraqi source from cabinet has said that Prime Minister Haidar al-Abadi might reject the loans offered to the country during Kuwait conference as the government is unable to burden more debts.

 

Speaking to Alghad Press, the cabinet source said, “Abadi will discuss during the meeting today the loans offered to Iraq during the Kuwait International Conference for the Reconstruction of Iraq, estimated at US$ 27 billion. Rejecting the loans is possible.”

 

Iraq, according to the source, “can reject the loans, in case it depended on foreign investments. The loans will be tackled in the meeting today.”

 

“World Bank previously urged the Iraqi government not to get more loans, including the facilitated ones. However, the participant countries offered Iraq loans that threaten its wealth in case of not organizing the investments.

 

The central bank said during the conference that the government cannot afford more loans after reaching the maximum rate over the past four years and that it will pay back for them over the coming six decades, the source said.

 

Iraqi officials previously said that the reconstruction of Iraq, in wake of a three-year war against Islamic State militants, requires US$88.2 billion and giving priority to the housing issue.

 

http://amp.iraqinews.com/features/iraqi-might-reject-loans-offered-kuwait-conference-source/

Edited February 16, 2018 by Spider

[King Bean]

17 hours ago, newbieDA said:

Flooding the Iraqi dinar and stopping the auction is the only solution for the Iraqi economy

 

Great article, Newbie. +1.  The bloated politicians in Iraq that skim millions from the auctions don't want this to happen. And Abadi has been handed the facts about corruption and losses to the CBI reserves many times over the last 4 years. He was on the finance committee under Maliki's reign as PM, so he knows what is happening. Pull the plug on auctions and watch Iraq benefit. It has to happen.

                                                   

[Floridian]

"What is the potential damage in the case of Float
Of course, there is a danger of a decrease in the Iraqi currency, but for employees whose income is not more than $ 1000, the damage will be limited and at the beginning only and only for the value of procurement of luxury materials, but will be met by the improvement of electricity, hospitals, medical devices, medicines, roads, water and credit card. There is the possibility of getting more members of the family more Of jobs. But when the economy, farms and factories of Iraq begin to circulate, the decline of the currency will be an old story"
 

1.  Decrease in the Iraqi currency will affect us (dinar investors).

2.  How long will it take for the economy, farms and factories "begin to circulate"?  Months?  Years?

 

Edited February 16, 2018 by Floridian

[yota691]

Al-Abbadi sets the date for launching the contracting sessions with the investment companies

By

 rami

 -

February 16, 2018

102

1

 

 

 

Prime Minister Haider al-Abadi said on Thursday that the number of attendees at the conference on Iraq reconstruction held in Kuwait recently was more than expected three times, referring to the launch of meetings with investment companies early next month.
Abadi said in his weekly press conference that “the number of attendance at the reconstruction conference of Iraq was greater than expected three times,” noting that “the steps to reconstruct Iraq will include all the provinces.”
He added that “Iraq is keen on the arrival of funds to the right projects,” following that “billions of dollars spent without there is an improvement in infrastructure and services.”
The Prime Minister, “the launch of meetings with investment companies early next month.”

[yota691]

International companies looking to implement major projects

17/2/2018 12:00 am  After Iraq won the international confidence  Baghdad / Sabah The process of transformation in the Iraqi economy is proceeding at an accelerated pace, after the country has gained international confidence and the major international companies are racing to gain a foothold in the Iraqi labor market. It is good to stop at once and consider the next steps to be taken in Iraq. Could be undertaken by the private sector. Of course, that shift begins with many areas of infrastructure, especially electric power, as it is the basis on which modern Iraq will be built. The provision of electrical energy and the work of its durability and reliability, to ensure delivery to every Iraqi citizen, is a basic human and important for the social and economic development in the country.  Quality projects  CEO of Siemens in Iraq Musab al- Khatib, said: "Kuwait conference is to gain international confidence in Iraq and the global effort advanced, which makes Iraq kiss sophisticated global companies that have the potential implementation of the quality of much - needed projects." "The electricity sector is at the center of development and the foundation for economic development. Through a series of integrated strategies in the short, medium and long term, it is possible to ensure a rapid and smooth transition to a stable and enhanced energy grid by halting the growing gap between demand and energy," he said. .  Power generation  According to a study of the reality of the rates of demand for electricity in Iraq, the growth rate is almost 6 percent annually, which means the need to increase the generation of electricity at the rate of 1,500 megawatts per year .. It is necessary to meet this growing demand for energy quickly to stop the growing gap between levels Demand and the availability of electric power.  "The current infrastructure of the electrical system in Iraq will be a major contributor to increasing the production of electric power in the future in the short and medium term, as there are promising possibilities to build a set of temporary mobile power stations, which can be implemented within months, at the same time on the rehabilitation of existing power plants, thereby contributing to the restoration of a large capacity of power generation in the areas you need more than others " global companies a member of the Baghdad economic Forum Jassem Al - Aradi said in an interview with the " morning " , " the importance of the Hod electricity sector, because it is an active contributor to the economic development process sought by the Iraqi partnership with specialized international companies which have expressed their desire to enter the Iraqi market and work in the liberated areas and different Alasttmkarat. " He pointed out that "Iraq can employ free natural gas and associated investment to cover the requirements of energy and industry in general and the export of surplus, and thus can move the national economy in cooperation with major specialized companies." Sustainable energy and with regard to the issue of job creation , Khatib said: "It is important to take education and training into account, we do not believe that it is possible to build a sustainable state energy by importing talent, sustainable economic and social development is backed by a group of experienced and highly skilled local talent, But it is not necessary that the skills we have today are what we need in five to ten years  from now. " "The need to provide them with the skills they need in the future, to bridge the gap between the existing workforce through new technologies and cooperation frameworks at the academic level, and the private sector is responsible for transferring knowledge, expertise and technology to empower a new generation , And education and training is an integral part of the work of Siemens in the Middle East in general and Iraq in particular, " Hydrocarbon wealth, explaining that"There are many challenges, but we believe that the future promises a lot. There are enormous resources available to the Iraqi people, whether in the form of hydrocarbon wealth or outstanding talents. We are sure that the Iraqi government is taking firm steps to fight corruption to ensure that the future economy is based on projects and projects. And we look forward to having an outstanding and effective role in a new and exciting chapter of  the country's march. " "Iraq has significant hydrocarbon assets and, if used efficiently, will drive a new era of sustainable economic development. The energy sector will of course play a major role, as more efficient power generation will leave more resources   for export, Large untapped potential for associated gas or flare gas in cooperation with the competent authorities (Ministry of Oil).

[yota691]

Newspaper: Iraq received at the Kuwait Conference on 1.8 billion dollars of 5 billion dollars

 

Saturday 17 February

 

 

 

Alsumaria News / Baghdad confirmed Hayat newspaper on Saturday that Iraq had hoped to get $ 5 billion at least in the Kuwait conference , noting that he got only $ 1.8 billion in grants.  "Iraq is not obliged to accept the loans granted to it during the Kuwait conference if it relies on foreign investments," the newspaper said, quoting informed sources .  "Iraq was hoping to get at least $ 5 billion, but it only got $ 1.8 billion in grants," she said. "The rest are loans and facilities."      The Kuwait International Conference for the Reconstruction of Iraq, hosted by Kuwait from 12 to 14 February, was held with the participation of 76 countries, international and regional organizations, 51 development funds, 107 local, regional and international non-governmental organizations and 1850 private sector entities. Contributions and assistance needed for the reconstruction of Iraq, this broad momentum of investment and development partnerships for the reconstruction of Iraq resulted in the collection of $ 30 billion.

[skeetdog]

Thanks Yota...Electricity has been an existing issue since I've known anything about Iraq...During the Saddam Hussein's regime electricity was used as a controlling tool for punishment...and electricity was on a daily curfew in most cities...Iraq's future is in their youth and training them to be productive toward the economy in building a stable society...Iraq has a silver-lining in their reconstruction plans...as the demands for projected future consumption of electricity can be calculated into modern specifications to meet the demands for cutting-edge technology...As Iraq rebuilds...they will have the advantage of coming back into the world market with the latest advancements to all field of commerce...Of course this all depends on an 'open-economy' and a sovereignty currency that's worth its true market value....

[yota691]

Aiding Iraq Is a Mistake While Iran Regime Is Still in Power There

 Friday, 16 February 2018 02:17

 

 

NCRI Staff

NCRI - Iraq is set to get $30 billion to be used for reconstruction plans, but many are questioning why anyone would invest such a substantial sum in a country with deployed militias and rampant corruption.

Abdulrahman al-Rashed, the former General Manager of Al Arabiya News Channel, wrote: “Who would want to invest money in a country her militias are deployed and corruption is rampant? There is sectarianism there and the government is weak.”

The contributors to the reconstruction include Turkey, the US, Saudi Arabia, Kuwait, Qatar, and the EU, but there is one country not included in that list that is particularly telling: Iran.

If anyone is most responsible for the destruction of Iraq, it’s the Iranian Regime.

Iran’s destruction of Iraq

Iran —the world’s leading state sponsor of terrorism- disintegrated the Iraqi state institutions in order to gain control over them and replaced the army with an Iran proxy group (the Popular Mobilization Forces) which does Iran's bidding in a similar way to the Lebanese Hezbollah.

The Iranian Regime supports Iraqi religious groups at the expense of the government and has sent in its general Qassem Soleimani- who is not legally allowed to leave Iran- to manage the Iraqi army and conduct its conflicts.

The Iranian Regime bankrupted Iraq in order to funds its malign military campaigns across the Middle East and used Iraq as a bridge to the continue its terrorist activities in Syria and Lebanon. There is a very real danger that the money raised will be used by the Iranian Regime to continue their reign of terror.

Rashed wrote: “If it hadn’t been for the Iranian Revolutionary Guards’ interferences, the Iraqis would have been in a better situation under the control of their political state institutions and the international community’s support. Iraq had in the past benefited from making use of its oil, water and human resources to establish a great state.”

Iraq has a lot of resources- mainly oil- that it could use to rebuild its country, but it has been prevented from doing so by Iran. The real question is: how will this $30 billion help Iraq rebuild, when the Iranian Revolutionary Guards Corps (IRGC) are still in control and will syphon that money off into more of Iran’s foreign wars?

This is why the Iranian Regime must be removed from power, not just for the Iranian people, but for the Middle East and the world as a whole.

[Synopsis]

5 hours ago, yota691 said:

Rashed wrote: “If it hadn’t been for the Iranian Revolutionary Guards’ interferences, the Iraqis would have been in a better situation under the control of their political state institutions and the international community’s support system" rel="">support. Iraq had in the past benefited from making use of its oil, water and human resources to establish a great state.”

Iraq has a lot of resources- mainly oil- that it could use to rebuild its country, but it has been prevented from doing so by Iran. The real question is: how will this $30 billion help Iraq rebuild, when the Iranian Revolutionary Guards Corps (IRGC) are still in control and will syphon that money off into more of Iran’s foreign wars?

This is why the Iranian Regime must be removed from power, not just for the Iranian people, but for the Middle East and the world as a whole.

 

I suspect Qassem Soleimani will be on the receiving end of Israeli Mossad shortly. The whole article is a great read and pretty much seems to state the current state of affairs and what needs to happen - quickly. With the various US moves and others regarding Iran's terrorist activities to include terrorist funding, I suspect more actions forcing Iran out of Iraq will be forthcoming in the very near future!

 

Just my opinion, thoughts, and 

 

Go Moola Nova!

[ChuckFinley]

The upside of the Iraqs poor showing at the Kuwaiti conference is that they may realize that it may be time to do something with their currency because the funding is drying up.  

[Synopsis]

27 minutes ago, ChuckFinley said:

The upside of the Iraqs poor showing at the Kuwaiti conference is that they may realize that it may be time to do something with their currency because the funding is drying up.  

 

 I really agree with You on this, ChuckFinley, AND The Best Of Your Weekend To You!!! 

 

Go Moola Nova!

[ChuckFinley]

20 minutes ago, Synopsis said:

 

 I really agree with You on this, ChuckFinley, AND The Best Of Your Weekend To You!!! 

 

Go Moola Nova!

Thanks, same to you. Trying to find the positives to build off of here.  

[ChuckFinley]

Just now, Botzwana said:

Thank you both Synopsis and Finley...for trying to be positive.  Sometimes this ride can wear on us.  I appreciate you both.

Thanks. Was just thinking about you. Has business picked up?

[Synopsis]

1 hour ago, ChuckFinley said:

Thanks, same to you. Trying to find the positives to build off of here.  

 

1 hour ago, Botzwana said:

Thank you both Synopsis and Finley...for trying to be positive.  Sometimes this ride can wear on us.  I appreciate you both.

 

Very Positive, ChuckFinley and Botzwana!!! 

 

I may be the eternal optimist regarding this IQD Speculative Investment. However, it appears that in the last seven years I have been in this speculative investment, the current environment has NEVER been as good as it is now for the IQD to RI/RV! Other supporting news could indicate major positive events on the horizon to be completed on the key items we have been waiting for in the very short term.

 

I anticipate things to be really interesting up to and through early March when Abadi said the reconstruction contracts would be let. I am hoping there is information on what currency a portion or all of the contracts will be paid. If in IQD, my optimism will likely peak and peg out! There may be a take up in the news regarding the "Deleting The Zeros Project" as well as information on the lower denominations in the very near future.

 

Just my opinion, thoughts, and 

 

Go Moola Nova!

[ChuckFinley]

23 minutes ago, Synopsis said:

 

 

Very Positive, ChuckFinley and Botzwana!!! 

 

I may be the eternal optimist regarding this IQD Speculative Investment. However, it appears that in the last seven years I have been in this speculative investment, the current environment has NEVER been as good as it is now for the IQD to RI/RV! Other supporting news could indicate major positive events on the horizon to be completed on the key items we have been waiting for in the very short term.

 

I anticipate things to be really interesting up to and through early March when Abadi said the reconstruction contracts would be let. I am hoping there is information on what currency a portion or all of the contracts will be paid. If in IQD, my optimism will likely peak and peg out! There may be a take up in the news regarding the "Deleting The Zeros Project" as well as information on the lower denominations in the very near future.

 

Just my opinion, thoughts, and 

 

Go Moola Nova!

I agree and I am with you on that eternal optimist. It is to easy to beat yourself up on this investment. Better to be positive than to be mopping around. Like I have said before. People are going to think your dumb for being in this so no use beating yourself up. The day this RVs you will be the smartest person on the planet. LOL

[yota691]

 

Deputy Law: The Kuwait conference was not held to help Iraq but to sink it with debt

Iraq News Now

23:54

Last updated

The time now is 12:05 AM

951

Watch

 

 

BAGHDAD (Reuters) - 
Kuwaiti lawmaker Mohammad Saadoun al-Chihoud said on Saturday that the Kuwait conference was not held to help Iraq but to sink it into debt, pointing out that the outcome of the conference does not carry any meaning to help.
"The major countries have given up Iraq again and have given up on several occasions," Chihud said in a statement. "The conspiracy against Iraq continues despite the failure of its chapters, which began with the introduction of al-Qaeda through sectarianism and ending with the introduction of a terrorist "Iraq has lost billions of dollars because of its war with terrorism on behalf of the world has been the destruction of the war infrastructure and superstition and the disruption and delay giant projects and large as the suspension of the wheel of development and reconstruction and construction."
He added that "the Kuwait donors conference was not held rather to help Iraq, but to destroy Iraq and flood it with debt, and therefore the outcome of the conference does not carry any meaning to help and construction and reconstruction, but to drain the wealth of Iraq and its people," pointing out that "Iraq needs 100 billion dollars as a grant for the construction and reconstruction The liberated areas as well as to complete the strategic projects in Iraq, and therefore the allocation of 30 billion dollars in loans, this means that the conference is free of its content and a real slap to the economy of Iraq, which will continue to suffer for years.

[yota691]

Maliki's coalition warns of a "debt spiral" Iraq has been running for generations and proposes an alternative to Kuwait's loans

 Twilight News    
 6 hours ago

"The donor conference in Kuwait will bring Iraq into a debt spiral that will have a huge impact on current and future generations," said Fatima al-Zarkani, a lawmaker for the province of Basra.

In a statement to Asharq Al-Awsat, al-Zarkani said in a statement to Asharq Al-Awsat that Iraq borrowed 29.07 billion dollars during the Kuwait conference and if the repayment for ten years will be 3 billion dollars and the proportion of installments 13% of the budget. If the government continues to borrow, the proportion of premiums will increase from the general budget, It is in the cycle of poverty.

And stressed the need to invest in the field of refineries and refining and this reduces the need to borrow and the country's fatigue with large debts and benefits.

Zarkani pointed to the need to develop future solutions by the government to develop the economy, indicating that the Ministry of Oil still does not have a strategy of refining and manufacturing industries to create a balance in the global supply of crude oil and maintain the stability of prices.

Keywords: 

[Synopsis]

1 hour ago, ChuckFinley said:

I agree and I am with you on that eternal optimist. It is to easy to beat yourself up on this investment. Better to be positive than to be mopping around. Like I have said before. People are going to think your dumb for being in this so no use beating yourself up. The day this RVs you will be the smartest person on the planet. LOL

 

Yeah, ChuckFinley, I don't tell people about this IQD Speculative Investment either! I believe the basis is solid but people think this is crazy and will never happen. I have told very few I am in this investment (count them on one hand) so I can slip away post event without any encumbrances.

 

Go Moola Nova!

[Wiljor]

“I have told very few I am in this investment”

Evening my good friend, a super weekend out to ya  

 

We all know your in this investment, and, your not crazy at all  ............. And, more then 5 of us know 

[Synopsis]

7 minutes ago, Wiljor said:

Evening my good friend, a super weekend out to ya  

 

The Best Of Your Weekend To You, Wiljor Bro!!! 

 

8 minutes ago, Wiljor said:

We all know your in this investment, and, your not crazy at all  ............. And, more then 5 of us know 

 

              

 

Go Moola Nova (YEAH, BABY!!!)!!!

 

P.S. I ran out of emeralds so I'll have to stop back later! 

[yota691]

On 2/4/2018 at 7:58 AM, yota691 said:

Still no amount talk about, article only refer to trade...

Iran announces its participation in the Kuwait International Conference for the Reconstruction of Iraq

Iran is reluctant to announce its intention to contribute to the reconstruction of Iraq

Fri, 16 Feb 2018 08:42:26 | Number of readings: 262

 

Iran has refrained from announcing its intention to contribute to the reconstruction of Iraq at the Kuwait conference held in Kuwait, in which the participating countries pledged 30 billion dollars to contribute to the reconstruction of Iraq, which has witnessed fierce wars in the past 15 years.

Iranian Foreign Minister Mohammad Javad Zarif said he was not part of the collective picture taken at the conclusion of the conference or of any material commitment, despite his participation in his work, saying only that his country had "fulfilled its obligations to Iraq over the past years."

The Iranian behavior raised a big question about Iran's reluctance to declare a financial pledge to participate in the reconstruction of Iraq, especially as it is the most intrusive in the affairs of its western neighbor from any other country in the world, and has drawn broad lines of interests that can not be ignored.

Iranian companies are among the most active companies in various fields of the Iraqi economy, while Iran considers Iraq one of its most important markets.

However, according to its policies in the past decades, the Iranian regime is not looking to play a role in the region or the world, but is working to create influence in countries to carry out its ideological interests. The "leverage" policy is too expensive and requires huge sums to "buy" loyalists and customers. This is what Iran has done in Iraq and other countries, especially in the last ten years, where it has funded parties and established pro-government movements and militias.

After Iran's absence, despite attending the Iraq Reconstruction Conference, observers expect Iran to reap most of the reconstruction projects, although it did not provide any support during the Kuwait conference, where its policy relies only on supporting its allies from parties and militias.

[yota691]

The World Bank refuses to hand over money to the Kuwait conference for Iraq and sets a condition for its disposal

 

 Since 2018-02-18 at 16:19 (Baghdad time)

Baghdad - Mawazine News

A member of the Committee on Economy and Investment Representative Amer al-Fayez, Sunday, that the news that talked about the condition of the World Bank on the survival of the funds of the donors conference under his supervision is expected, indicating that Iraq is globally diagnosed high corruption index and therefore there is fear of handing over money.

Al-Fayez said in a press statement, "The subject of the World Bank's requirement not to hand over the funds of the donor conference to the Iraqi government and keeping it under its supervision in its disbursement to the investment companies that aspire to rebuild Iraq is expected," pointing out that " Donors in Kuwait there was a condition to deposit funds in the Kuwaiti bank and disbursed in the form of payments to investment companies. "

"This is expected because Iraq is diagnosed by the countries of the world, the rise of the corruption index in it and this led to the loss of confidence in the Iraqi institutions."

The Economic Committee in the House of Representatives, earlier, that the loans granted to Iraq at the International Conference on Iraq Reconstruction, amounting to about $ 27 billion, will weigh the "burden" of the budget.

The Kuwait International Conference for the Reconstruction of Iraq was launched on Monday, February 12, 2018, and concluded on Wednesday 14 February.

Iraq also received non-sovereign loans, financing and project guarantees amounting to $ 11.61 billion, through $ 1 billion Kuwait, 0.5 reconstruction exports from Saudi Arabia, $ 5,200 billion, $ 210 million, United Kingdom, $ 3.5 billion, and 1.2 Billion dollars)