The government of Iraq counts the contracts concluded within the Chinese agreement

[yota691]

Economie

IMPLEMENTED IN THE MIDDLE EUPHRATES.. CHINA LAUNCHES THE LARGEST INVESTMENT PROJECT IN IRAQ WORTH 20 BILLION مليار

Thursday, June 10, 2021 3:00 PM

 

 

 

Private / National News Center الخبر

Today, Thursday, the Muthanna Investment Commission revealed that Chinese companies have implemented the largest investment project in Iraq, pointing out that its value reaches $20 billion.

The Director General of the Muthanna Investment Authority, Adel Al-Yasiri, said in a statement to the "National News Center", "A group of Chinese companies obtained an investment license to establish the largest investment construction project in the Najmi area in Muthanna, starting with two billion dollars and ending with twenty billion dollars."

Al-Yasiri added, "This project will be specialized in the manufacture of "ceramic, alabaster, aluminum, porcelain, iron and cork," and it is one of the giant federal projects that enjoy direct support from Prime Minister Mustafa Al-Kazemi."

[yota691]

Oil announces the largest investment project in the oil industry

•  Time: 07/13/2021 21:20:55
•  
•  Reading: 832 times

  

{Economic: Al-Furat News} The Ministry of Oil announced the transfer of the large Al-Faw investment refinery with a capacity of 300,000 barrels per day with the construction of the strategic Al-Faw petrochemical complex to the Chinese state-owned CNCEC Company.

"This project is the largest investment project in the oil industry, and a qualitative leap in the refining sector and petrochemical industries," Oil Minister Ihsan Abdul-Jabbar Ismail said during his attendance of the referral.

[yota691]

 

OIL ANNOUNCES THE TRANSFER OF THE LARGE FAW REFINERY TO A CHINESE COMPANY

 

 

Tue, Jul 13, 2021 9:26 PM

Baghdad / National News Center المركز

Today, Tuesday, the Ministry of Oil announced the assignment of an oil refinery with a capacity of 300,000 barrels per day to a Chinese company.

The ministry said in a brief statement received by the "National News Center", that "in the presence and patronage of the Minister of Oil Ihsan Abdul-Jabbar Ismail, it was announced that the large Al-Faw investment refinery with a capacity of 300,000 barrels per day was transferred with the construction of the strategic Al-Faw petrochemical complex to the Chinese state-owned CNCEC."

The statement quoted Oil Minister Ihsan Abdul-Jabbar Ismail as saying, "This project is the largest investment project in the oil industry, and a qualitative leap in the liquidation sector and petrochemical industries."

[yota691]

Economie

ITS GOAL IS TO EXPORT TO EUROPE AND THE MIDDLE EAST.. AL-MUTHANNA INVESTMENT ANNOUNCES THREE GIANT PROJECTS

 

 

Monday, 12 July 2021 12:00 PM

Special / National News Center

Today, Monday, the Muthanna Investment Authority announced the imminent implementation of three giant projects in the field of construction in Muthanna, after obtaining approvals from the Ministry of Industry.

The Director-General of the Investment Authority, Engineer Adel Al-Yasiri, said, in a special statement to the "National News Center", that "China obtained the approval of the Ministry of Industry to establish three factories as a first meal in Al-Najmi district in Al-Muthanna Governorate, specialized in construction materials in the first place, with the presence of an independent power station to generate electricity for these laboratories.”

Al-Yasiri said, "The first plant will specialize in the ceramic industry at an initial cost of 600 million dollars, then the colored ceramics factory at a cost of 280 million dollars, then the carton and envelopes factory at a cost of 100 million dollars, with an independent power plant."

Al-Moussawi stressed, "The Chinese delegation will come to Iraq at the beginning of next week to conduct laboratory soil tests," noting that "the approvals will be presented to the Council of Ministers for the purpose of voting, given that the project costs exceed one billion dollars."

Al-Moussawi pointed out, "The production of these ceramic factories will cover Europe and the Middle East, and thus will be completely different from all Iraqi projects," stressing that "there are other Chinese factories to come, such as iron and aluminum, after the completion of these three factories."

[yota691]

Oil Minister: Al-Faw refinery is being implemented with Chinese funding and will accommodate 10,000 local workers

•  Time: 07/18/2021 08:01:26
•  
•  Reading: 1,079 times

  

{Economic: Al-Furat News} Oil Minister Ihsan Abdul-Jabbar stated that the Al-Faw refinery project will be implemented with funding from the Chinese government and will accommodate the employment of 10,000 local workers, while he announced receiving offers from international companies to establish clean energy power stations, stressing that Iraq is preparing to host the OPEC Plus meeting. end of next September.

 

Abdul-Jabbar said, in a press interview, that "the referral of the FAO refinery project to the Chinese company (CNCEC) comes after Iraq received binding guarantees of financing from the Chinese state-owned SASAC Corporation, which is the second largest economy in the world."

He pointed out that "the assignment contract included important strategic issues, such as clean energy, guarantees and transparency regarding support, technology transfer and financial regulation, with items related to the environment, employment, importing modern technologies, and training workers in specialized centers for operation, maintenance, development, and technical and engineering performance."

Abdul-Jabbar suggested that "the project will enter into force soon, according to the latest technologies in crude oil refining and the production of oil derivatives, plastics and petrochemical condensates," noting that "the refinery will contribute to employing 10,000 workers, engineers, and intermediate staff, as well as exporting oil derivatives to the global market."

He stressed that "Iraq targets in its plans other investments for the leading companies in the associated and free natural gas sector, and seeks to conclude contracts for infrastructure projects to escalate energies in the production of crude oil."

Abdul-Jabbar revealed that "received offers for the establishment of alternative energy-powered power stations from international companies, including the French Total and major international companies, which will be announced later."

Forgiveness of the Knoller 

[horsesoldier]

Before Long. China will OWN Iraq ..... and the corrupt won’t mind because they’ve planned on selling Iraq out now for a very long time 

[3n1]

24 minutes ago, horsesoldier said:

Before Long. China will OWN Iraq ..... and the corrupt won’t mind because they’ve planned on selling Iraq out now for a very long time 

 

 correctamundo , like ur thinkin lincoln ... china's only goal - imo world domination   

[yota691]

Oil Minister: Al-Faw refinery is being implemented with Chinese funding and will accommodate 10,000 local workers

Sunday 18 July 2021 858

 

 Baghdad: Saad Al-Sammak

 

The Minister of Oil, Ihsan Abdul-Jabbar, stated that the Al-Faw refinery project will be implemented with funding from the Chinese government and will accommodate the employment of 10,000 local workers.

Abdul-Jabbar said, in an interview with "Al-Sabah": "The referral of the FAO refinery project to the Chinese company (CNCEC) comes after Iraq received binding guarantees of financing from the Chinese state-owned SASAC Corporation, which is the second largest economy in the world."

He pointed out that "the assignment contract included important strategic issues, such as clean energy, guarantees and transparency regarding support, technology transfer and financial regulation, with items related to the environment, employment, importing modern technologies, and training workers in specialized centers for operation, maintenance, development, and technical and engineering performance."

Abdul-Jabbar suggested that "the project will enter into force soon according to the latest technologies in refining crude oil and producing oil derivatives, plastics and petrochemical condensates," noting that "the refinery will contribute to the employment of 10,000 workers, engineers, and intermediate staff, as well as exporting oil derivatives to the global market."

He stressed that "Iraq targets in its plans other investments for the leading companies in the associated and free natural gas sector, and seeks to conclude contracts for infrastructure projects to escalate energies in the production of crude oil."

Abdul-Jabbar revealed that "received offers for the establishment of alternative energy-powered power stations from international companies, including the French Total and major international companies, which will be announced later."

[yota691]

Disclosure of new contents of the agreement between Iraq and China

 2021/07/20

 

 188

 

Baghdad / Al-Mawrid News

Adviser to the Prime Minister for Financial and Economic Affairs, Mazhar Muhammad Salih, revealed today, Tuesday, new contents of the agreement between Iraq and China, and while he confirmed the existence of a high-level movement to determine the best projects to implement in the agreement, setting the actual date for the start of work on the Iraq-China Fund agreement.

Saleh told the official agency that "the cooperation framework agreement with China, which was signed by the Iraqi government in stages between 2018 and 2019, including the accounting and oil annexes, begins with joint funding between Iraq and China to implement infrastructure projects in Iraq."

He added that "the project is based on Iraqi financing, amounting to (100) thousand barrels per day from Iraq's exports to China, and these exports are sold at the best prices through a certain mechanism," noting that "the proceeds are kept for the purposes of implementing projects in Iraq that are handled by sober Chinese companies."

He explained that "it is also agreed to put a deposit as a goodwill to work, and currently the money is going to open accounts with the Chinese bank for the purposes of the agreement, and there is movement within the Iraqi government at a high level to determine what are the best projects."

He stressed that "the government does not want to initiate any projects, but rather tends in general to income-generating projects that occupy citizens, thus adopting a new approach," noting that "the agreement extends for twenty years and may witness developments that reach raising the allocated amounts and turning to a larger partnership agreement that depends on the circumstance." ". 

And regarding the failure to implement the agreement during the past year, Saleh said, "The agreement was not implemented in 2020, for two reasons, the first is the lack of a budget in Iraq, and the second is China's closure to the world and the withdrawal of its companies due to the pandemic that struck the world."

He added that "the budget for the current year 2021, included a clear and positive reference to the agreement and put amounts in it, whether in the form of borrowing or implementing projects based on the interpretation of the Iraqi government," stressing that "the second half of this year is the actual and real year for the start of the work of the Iraq-China Fund agreement."

He noted that "the agreement may start modestly with some projects, but the state will choose the projects carefully and they will be important and vital projects," noting that "among the projects are building schools and implementing projects related to drinking water in southern Iraq, and others related to petrochemicals, and they will be carefully studied and selected." .

He stressed that "the agreement is 20 years old and ratified, and there is no government that does not want to build and give an opportunity for reconstruction, especially since development relations are not easy and are investment, building and development relations," explaining that "China has a great activity in Iraq, especially in the oil sector, and according to information, About 40 percent of the oil operations in southern Iraq are with Chinese companies, in addition to the fact that the largest foreign labor in Iraq is Chinese labor.

And he continued, "On the other hand, we do not forget that the Iraqi-Chinese oil relations are deep relations, and Iraq is the largest source for China, and according to information, 40-45% of Iraq's exports are to China."

[yota691]

A new statement from Al-Kazemi's advisor regarding the Chinese agreement projects

political| 09:51 - 20/07/2021

 

 

 

 

Baghdad - Mawazine News
, Adviser to the Prime Minister for Financial and Economic Affairs, Mazhar Muhammad Salih, revealed today, Tuesday, new contents of the agreement between Iraq and China, and while he confirmed the existence of a high-level movement to determine the best projects to implement in the agreement, he set the actual date for the start of work on the Iraq-China Fund agreement, and
said Saleh, "The cooperation framework agreement with China, which was signed by the Iraqi government in stages between 2018 and 2019, including the accounting and oil annexes, begins with joint funding between Iraq and China to implement infrastructure projects in Iraq."
He added that "the project is based on Iraqi financing, amounting to (100) thousand barrels per day from Iraq's exports to China, and these exports are sold at the best prices through a certain mechanism," noting that "the proceeds are kept for the purposes of implementing projects in Iraq that are handled by sober Chinese companies."
He explained that "it is also agreed to put a deposit as a goodwill to work, and currently the money is going to open accounts with the Chinese bank for the purposes of the agreement, and there is movement within the Iraqi government at a high level to determine what are the best projects."
He stressed that "the government does not want to initiate any projects, but rather tends in general to income-generating projects that occupy citizens, thus adopting a new approach," noting that "the agreement extends for twenty years and may witness developments that reach raising the allocated amounts and turning to a larger partnership agreement that depends on the circumstance. ".
And regarding the failure to implement the agreement during the past year, Saleh said, "The agreement was not implemented in 2020, for two reasons, the first is the lack of a budget in Iraq, and the second is China's closure to the world and the withdrawal of its companies due to the pandemic that struck the world."

He added that " the current budget year 2021, a clear signal positive and included the Convention and put the amounts either in the form of borrowing or implementing projects based on the interpretation of the Iraqi government , " stressing that " the second half of this year is the actual real year to start the work of the Chinese Iraqi Fund agreement , "
noted He pointed out that "the agreement may start modestly with some projects, but the state will choose the projects carefully and they will be important and vital projects," noting that "among the projects are building schools and implementing projects related to drinking water in southern Iraq, and others related to petrochemicals, and they will be carefully studied and selected."
He stressed that "the agreement is 20 years old and ratified, and there is no government that does not want to build and give an opportunity for reconstruction, especially since development relations are not easy and are investment, building and development relations," explaining that "China has a great activity in Iraq, especially in the oil sector, and according to information, About 40 percent of the oil operations in southern Iraq are with Chinese companies, in addition to the fact that the largest foreign labor in Iraq is Chinese labor.
And he continued, "On the other hand, we do not forget that the Iraqi-Chinese oil relations are deep relations, and Iraq is the largest source for China, and according to information, 40-45% of Iraq's exports are to China." Ended 29 / h

 

 

 

[ronscarpa]

56 minutes ago, yota691 said:

Statement from Al-Kazemi's advisor regarding the Chinese agreement projects

And he continued, "On the other hand, we do not forget that the Iraqi-Chinese oil relations are deep relations, and Iraq is the largest source for China, and according to information, 40-45% of Iraq's exports are to China."

 

Thanks yota691 - This says it all...! RON

[yota691]

Adviser to the Iraqi Prime Minister: The cooperation agreement with China has entered into force

Oil drums bearing the emblem of the Iraqi flag

 July 22, 2021 03:09 PM

Direct: Prime Minister 's Advisor for Financial Affairs, the appearance of Mohammed Saleh, today announced Thursday that China consumes 44% of Iraqi oil exports, referring to the entry of the cooperation agreement with them into effect.

 

Saleh said, that China is the first market in Iraqi oil exports, indicating that it alone consumes about 40-44% of Iraqi oil exports and about 800,000 barrels of oil per day, according to the Iraqi News Agency (INA).

Saleh noted that a small part of those exports are dues of oil service contracts for Chinese companies operating in Iraq, to which the value of 100,000 barrels per day was recently added, deposited in the designated bank account; To implement the projects of the cooperation framework agreement that really became effective last month.

And the financial advisor to the Prime Minister announced, last April, the possibility of raising the ceiling of oil exported under the agreement with China to 300,000 barrels per day.

In September of 2019, the Iraqi and Chinese governments signed  8 agreements and memoranda of understanding, and the  agreement to deduct 100,000 barrels per day to China; In return for the implementation of strategic projects by Chinese companies, such as roads, railways, hospitals, schools, residential complexes, ports, energy, dams, infrastructure, and others.

[yota691]

Adviser to the Prime Minister: China consumes 44 percent of Iraqi oil exports

 

energy Economy News _ Baghdad Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, announced on Thursday that China consumes 44 percent of Iraqi oil exports. Saleh said in a press interview, "China is the first market in Iraqi oil exports, and it alone consumes about 40-44 percent of Iraqi oil exports, with about 800,000 barrels of oil per day." He added, "A small part of those exports are the dues of oil service contracts for Chinese companies operating in Iraq, to which 100 thousand barrels per day were recently added, deposited in the bank account designated for the implementation of projects of the cooperation framework agreement that became truly effective last month."

Views 257   Date Added 07/22/2021

[yota691]

A government advisor reveals important developments regarding the "Chinese agreement"

Economie

2021-07-23 | 12:00

 

 

 

5,099 views

 

Today, Friday, the Prime Minister's Advisor for Reconstruction Affairs, Sabah Abdul Latif, revealed the existence of "major projects" that will be implemented within the Chinese agreement signed in 2019.

Abdul Latif said in an interview carried by the Iraqi News Agency, "All legal problems have been resolved and that the deposit of funds Iraq The sum of 100,000 barrels per day was started in the sovereign fund during the past two days,” he said, noting that “the value of 100,000 barrels of oil will be deposited in the fund, and these amounts will be used in construction.”

 

He added, "There are 4 major projects that will be harnessed in the reconstruction, which is the construction of 91 thousand housing units in AS SADAR city With a value of approximately $ 8 billion, as well as the reconstruction of the airport Nasiriyah The foundation stone was laid in it, in addition to the construction of 1,000 schools in each Iraq As well as the implementation of sewage projects in four regions in the capital Baghdad through this agreement.

 

The Prime Minister's Adviser for Reconstruction Affairs confirmed that "the agreement is open until any of the parties requests that it stop."

[VIRGINPARADIZE]

The Chinese will succeed where others have failed. Iraq's success is our only hope to this investment. 

 

[VIRGINPARADIZE]

I feel bad for our Brothers and Sisters who have invested in this for so long and never seen light of it caused they have been called by the Lord. May their Souls RIP. Trust me it's coming and no one can stop it now. The Sun rises in the East- never fails. 

 

  

[yota691]

Adviser to the Prime Minister announces the details of the Chinese loan and the projects funded by it

 

money and business Economy News _ Baghdad Adviser to the Prime Minister, Mazhar Muhammad Salih, announced, on Tuesday, the details of the Chinese loan and the projects funded by it, while noting that discussions are continuing to determine the priorities of the projects covered by the loan. Saleh said in an interview with the Iraqi News Agency, and followed by "Economy News", that "the cooperation framework agreement between Iraq and China has become effective, and took its first course through the legislation of the General Budget Law for the year 2021, when an amount of more than one trillion dinars was approved, implemented through The Chinese loan is guaranteed by the Chinese Agency for Credit and Export Guarantee (Sinosure), noting that “there are important technological projects in the field of industry and motivating the wheels of the economy that will be financed from the aforementioned allocation contained in the budget law in order to improve its productive efficiency, which means a signal to start the work of the cooperation framework agreement between the two countries ". He added that "work is still going on to determine the priorities of projects that Chinese government companies can promote in the form of direct implementation contracts in accordance with the best international practices in contracting, and they are financed from the proceeds from the sale of Iraqi oil to the People's Republic of China." He stressed that "the aforementioned agreement with China provided for allocating revenues of 3 million barrels of oil per month for the implementation of projects by Chinese companies at the request and selection of the Iraqi side in accordance with international standards," noting that "work is underway between consultants and experts in the state apparatus to prioritize projects with prejudice and priority." The first direct impact on the life of the citizen and human development in Iraq.

Views 138   Date Added 09/28/2021

[VIRGINPARADIZE]

https://www.iraq-businessnews.com/tag/china/

Just like the ancient Silk Road did, China’s drive to connect The World will go through Baghdad, as Iraq is joining China’s multination Belt and Road initiative. The People of Iraq and Our only hope for the Iraqi Dinar regaining it's Status and Value on the World Stage. 

[VIRGINPARADIZE]

On 7/18/2021 at 9:21 PM, horsesoldier said:

Before Long. China will OWN Iraq ..... and the corrupt won’t mind because they’ve planned on selling Iraq out now for a very long time 

China will do better for Iraq than those who currently occupy and is draining the oil resources of the country without the people benefiting from the spoils. China will do for the World where ALL others have plundered. It's in the Historical records. Time will soon tell. 

 

[yota691]

China: The volume of trade exchange with Iraq reached 30 billion dollars in 2020

 

Containers at a port in China. "Reuters"

money and business Economy News - Baghdad The Chargé d'Affairs of the Chinese Embassy in Iraq, Jian Fangning, announced that the volume of trade exchange between his country and Iraq reached 30 billion dollars during the year 2020. Fangning said in a statement, "Last August, the Iraqi and Chinese presidents made a phone call, during which they agreed on ways to deepen bilateral cooperation in building the Belt and Road and develop the Sino-Iraqi strategic partnership relations to a greater extent." He added, "Cooperation within the framework of the Belt and Road has yielded fruitful biases," noting that "the volume of trade exchange between Iraq and China exceeded $30 billion in 2020." He stressed that "Iraq is China's third largest trading partner in West Asia and North Africa, and its third largest oil supplier." He pointed out that "economic and trade cooperation between the two countries is going on in a stable manner despite the repercussions of the pandemic, and Chinese companies are actively participating in the reconstruction of Iraq in the sectors of energy, electricity, communications, industry, infrastructure and others, as a contribution to promoting economic and social development and improving the livelihood of the Iraqi people."

Views 84   Date Added 09/29/2021

[yota691]

Official: An international company is following the movement of funds within the "Iraqi-Chinese" cooperation agreement

archival

 October 17, 2021 09:05 PM

 

Mubasher: The financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, announced today, Sunday, the existence of an international company to follow up on the movement of funds within the agreement.

Saleh said, in a statement to the Iraqi News Agency (INA), that "the rise in oil prices will have a positive impact on investment, especially the Iraqi-Chinese cooperation framework agreement, which is fed monthly with national resources worth three million barrels out of the total monthly quantities exported to China, which amount to three million barrels." 25 million barrels of crude oil.

The Prime Minister's advisor explained that China is the first buyer of Iraqi oil, as it accounts for at least 40 percent of Iraq's total oil exports in global markets.

And he indicated that the monetary value of the investment account rose on average to more than $45 a barrel as specified in the general budget 2021, and the added balance became moving upwards in value with the positive developments in the prices of exported crude oil after it crossed the $80 barrier per barrel.

He pointed out that during the past four months, the Iraqi investment account with China was activated, and its funds will be allocated to infrastructure projects and income-generating activities by implementing Chinese companies of international standards.

He pointed out that "the credit line available from the Chinese side to Iraq amounted to 1.8 billion dollars, which is a financial liquidity that can be borrowed to spend on other important projects, but the budget law for the year 2021 specified the benefit to an amount not exceeding one trillion dinars and a credit line provided by banks. China for the current year and with the guarantee of the Chinese Credit and Export Guarantee Agency (Sinoshore), the guarantor and guarantor, and the equivalent of 700 million dollars.

He added, "The amount will be allocated to develop important projects in the energy sector in Iraq," stressing that "a major international auditing company is following the movement of funds, accounts and all financial transactions concerned with the agreement of the cooperation framework between the two countries.

[yota691]

Iraq announces the activation of the "investment account" with China to implement huge projects

October 18 2021

 

Select the benefit of the nature of the investment of funds accumulated in the Chinese fund
Ultra Iraq - Editorial Team

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, announced the activation of the "investment account" with China to implement huge projects.

Saleh said, in a statement, that "the rise in oil prices will have a positive impact on investment, especially the Iraqi-Chinese cooperation framework agreement, which is fed monthly by national resources with a value of three million barrels out of the total monthly quantities exported to China, amounting to 25 million barrels of crude oil." According to the prevailing international oil prices.

Saleh added, "China is the first buyer of Iraqi oil, as it accounts for at least 40 percent of Iraq's total oil exports in global markets," explaining that "the monetary value of the investment account has increased on average to more than $45 a barrel as specified in the 2021 general budget, And the added balance became moving upwards in value with the positive developments in the prices of exported crude oil after it crossed the $80 barrier per barrel.

The adviser to the Prime Minister pointed out that "the past four months witnessed the activation of the Iraqi investment account with China, and its funds will be allocated to infrastructure projects and income-generating activities by implementing Chinese companies of international standards," noting that "the credit line available from the Chinese side to Iraq amounted to 1.8 billion dollars." , which is a financial liquidity that can be borrowed to spend on other important projects, but the budget law for the year 2021 specified the benefit to an amount not exceeding one trillion dinars and a line of credit provided by Chinese banks for the current year and with the guarantee of the Chinese Agency for Credit and Export Guarantee (Sinoshore), the guarantor and guarantor and with what Equivalent to 700 million dollars.

He also indicated, "The amount will be allocated to develop important projects in the energy sector in Iraq," noting that "a major international auditing company is following up on the movement of funds, accounts and all financial transactions related to the cooperation framework agreement between the two countries, which has been appointed and its oversight and auditing tasks determined by the Iraqi government."

 

 

[yota691]

Assigning international companies to audit and follow up on the funds of the Iraqi-Chinese agreement

 

Infrastructure projects. "Internet"

money and business Economy News - Baghdad The financial advisor to the Prime Minister, Mazhar Muhammad Salih, announced, on Thursday, the activation of the Iraqi investment account within the Chinese agreement, while referring to the Iraqi government’s assignment of international companies to follow up and audit the movement of funds within this agreement. Saleh said, in a statement reported by the official news agency "Conscious" and seen by "Economy News", that "the Iraqi investment account in the cooperation framework agreement between Iraq and China was activated more than five months ago from the current year 2021," noting that "the funds of this agreement will be allocated For important infrastructure projects, including the school building project, the 1000 schools project, and others, as well as important income-generating investment projects, which Chinese companies with world-class standards will compete for implementation. He added, "There is a credit line from the Chinese side, which amounts to about $1.8 billion for the current year 2021, as it is available as a financial liquidity that can be borrowed for spending on other important projects, but the Federal General Budget Law for the fiscal year 2021 allowed benefiting by an amount that does not exceed a little more than one trillion dinars." That is, a line of credit provided by Chinese banks this year and under the guarantee of the Chinese Credit and Export Guarantee Agency (Sino Shore), which is the guarantor and guarantor, and the equivalent of nearly 700 million dollars, according to the budget law. And Saleh indicated that "this will be devoted to urgent and important development projects in the electric power sector in Iraq," noting that "there is a major international auditing company that monitors the movement of funds, accounts and all financial transactions concerned with the cooperation framework agreement between the two countries, which was appointed and its oversight and auditing tasks were determined by the government." Iraqi".

Views 69   Date added 04/11/2021

[yota691]

The government of Iraq counts the contracts concluded within the Chinese agreement

Iraq - archive

 December 06, 2021 08:11 PM

Mubasher: The General Secretariat of the Iraqi Council of Ministers announced today, Monday, the number of contracts concluded within the Chinese agreement, while it indicated the allocation of 1,000 plots of land to build schools within the agreement.

Haider Majid, spokesman for the General Secretariat of the Council of Ministers, said in a statement to the Iraqi News Agency "INA", that the first contract that was signed within the Iraqi-Chinese agreement is the contract for the development and rehabilitation of Nasiriyah International Airport.

Majeed indicated that the contract was signed under the patronage of Prime Minister Mustafa Al-Kazemi and in the presence of the Secretary-General of the Council and the Minister of Transport, and the contract was concluded between the head of the Civil Aviation Authority and the representative of the Chinese executing company.

He explained that the second contract concluded with the Chinese side includes the establishment of a thousand model schools in all governorates, as it is part of the initiative of the national project in building schools launched by the Prime Minister, noting that "the General Secretariat of the Council of Ministers took upon itself the executive management of the project, as well as on setting up procedures and agreements for it.

He added, "Numerous meetings were held with the Chinese side to reach a specific formula on the project, as the Council of Ministers approved and issued a special decision to refer the project to two Chinese companies."

And he continued, "The council completed the logistical procedures by preparing the 1,000 plots of land in all governorates, and the contract is under implementation in the legal department of the General Secretariat of the Council of Ministers," stressing that "concluded a contract with the Chinese side soon, and then handing over the sites for the purpose of starting the project."

On a second topic, Majid pointed out that the Sadr City rehabilitation project aims to establish a new city and a residential complex that includes 90,000 housing units.

He pointed out, "It will advance the urban, economic and commercial reality of Sadr City, especially since there is a vision for the government to refer the project to a Chinese company within the framework agreement between Iraq and China."

He pointed out that the government has a future vision to develop the economic reality in all respects, as well as vital projects in the fields of energy and infrastructure, which are planned to be referred through this framework agreement.

[screwball]

this is looking the best............investment talk again along wioth talk about exchange rates....roll on jan and feb