PM’s advisor clarifies the mechanism of the Chinese agreement projects account

Baghdad - INA 

Advisor to the Prime Minister, Mudhar Muhammad Salih, explained, today, Thursday, the mechanism of work for the Iraqi-Chinese agreement projects account, while noting that the Central Bank manages the account under the supervision of an international auditing company.

Salih told the Iraqi News Agency (INA), that "important financial resources were accumulated after they were deposited in the account of the Chinese agreement projects, which was established under the annex to the cooperation agreement between Iraq and China, in which the revenues of exports of 100,000 barrels per day of Iraqi crude oil exported to China are deposited," noting That "the money is allocated to the projects of the Chinese agreement."

He added, "The operations of depositing money and withdrawing from the account are continuing for the benefit of the projects concluded within the agreement," noting that "
Salih stated that "the account is managed very carefully by the Central Bank of Iraq, and the financial operations are audited by the major international financial auditing companies."