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

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On 10/18/2021 at 12:28 PM, yota691 said:

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.

this is good news if you remember back in 2013 they set up this group to manage all funds, because over the years countries had been donating funds and greedy politicians had been stealing it