Tuesday, March 19, 2024

Baghdad

Islamic Development Bank pledges to finance Iraq with 3 billion dollars

 Islamic Development Bank pledges to finance Iraq with 3 billion dollars

Iraqi dinars – File Photo

Iraqi dinars - File Photo
Archival Photo.

(IraqiNews.com) Baghdad – The Iraqi Central Bank announced on Thursday, that the Islamic Development Bank vowed to finance Iraq with an initial amount of three billion dollars, while emphasized that the amount will be in the form of grants and soft loans.

The Central Bank said in a statement received by IraqiNews.com, “The bank received a preliminary commitment from the Islamic Development Bank to finance Iraq with three billion dollars in the form of grants and soft loans.”

Noteworthy, Minister of Finance Hushiar Zebari announced in 19 May 2016 reaching an agreement with the International Monetary Fund to obtain a loan of 5.4 billion US dollars, while pointed out that the loan will provide extra financial aid of about 15 billion US dollars in the next three years.

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