The IMF & World Bank have Agreed in Resuming Lending to Iraq: Muhammad Saleh

The Economic Adviser to the Iraqi Prime Minister, Muhammad Saleh has announced to continue his meeting discussions with the International Monetary Fund in order to make a review of credit agreement because it will provide a loan of 5.4 billion U.S dollars. A number of Iraqi news media outlets quoted the statements of Saleh regarding the launch of a portion of loan estimated at 840 million U.S dollars by the next June. The statement indicated that a delegation of Iraqi officials headed by the Iraqi Finance Minister has planned an official visit to Washington D.C in the coming week. They will discuss the eagerness of credit agreement signed by Iraq with the IMF and the World Bank in 2015. Point to be noted that the agreement will provide 5.4 billion U.S dollars to Iraq, in which Iraq has received at least 1.25 billion U.S dollars. Saleh added that Iraqi delegation will begin its discussions with the World Bank and the International Monetary Fund.

The IMF & World Bank have Agreed in Resuming Lending to Iraq: Muhammad SalehThe statement further indicated that Iraqi delegation includes the Governor of Iraqi Central Bank, Senior Officials from the Finance Ministry of Iraq, Iraqi Ministry of Planning and Ministry of Oil, the Central Bureau of Statistics, the Office of the Financial Supervision and the Oil Marketing Company (SOMO), the representatives from the Regional Government of Kurdistan. It is important that the official from the Finance Ministry of Iraq said a couple of weeks ago that United Kingdom has agreed in providing more than 12.29 billion U.S dollars (10 billion British pounds) in loans to Iraq. This amount will provide a handsome support in financing most important projects in the infrastructure sector. The Rasheed Bank also announced on Monday that the Bank is opening a new branch in Wasit province. This branch will provide its banking services to the citizens of Wasit. Point to be noted that there are 152 branches of Rasheed Bank in all Iraqi Provinces.

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