Iraq signed with KFW an amendment to finance a number of development projects

Economy
  • 25-07-2024, 21:23
  • +A -A

    Baghdad - INA

    The Ministry of Finance and the German Development Bank (KFW) signed, today, Thursday, an amendment to the loan agreement to finance a number of development projects.

    The Ministry of Finance said in a statement received by the Iraqi News Agency (INA): "Today, at the headquarters of the Ministry of Finance, an amendment to the agreement to extend financing loans granted by the German Development Bank (KFW) for a number of development projects was signed.".

    It added, "The amendment was signed between the Minister of Finance, Taif Sami Muhammad, and the bank's representative in Iraq."
    The new amendment stipulates - according to the ministry's statement - extending the disbursement period for projects financed by loans, as follows:

    - Extending the loan agreement to rehabilitate the infrastructure to provide electricity in the liberated areas (phase three) in the amount of 140 million euros until 15/1/2027.

    - Extending the loan agreement to rehabilitate the infrastructure of roads, bridges, water and sanitation in the amount of 90 million euros until 31/12/2026.