March 18, 2010Loan of $ 250 million from the World Bank for Iraq
Finance Minister Baqir al-Zubaidi on Thursday to get a loan with the World Bank $ 250 million out of half a billion has been agreed, noting that Iraq would ask the remaining half in the absence of liquidity.
According to a ministry statement said the loan is the third of its kind.
Has already been submitted and the International Monetary Fund loan paid by Iraq in 2007 and worth $ 470 million, the Fund has also granted another loan in December 2007 worth $ 744 million was paid in March 2009.
Zubaidi said that the term of the loan 15 years, including four and a half years grace period interest rate does not exceed 1,2%, adding that the loan will be in cash to Iraq for use in the financing of budget deficit in 2010
The parliament passed in late January last budget with a total value to the tune of $ 72,5 billion and a deficit of 19,6 billion dollars.
The statement stressed that Iraq's reserves of foreign currencies now stands at 42 billion dollars after it was 27 billion dollars in 2008, after rising oil prices.
VinTV
