The Council of Ministers decides Iraq’s accession to the Asian Investment Bank agreement for infrastructure

Baghdad The Council of Ministers decided to authorize the Minister of Foreign Affairs to sign the application for the accession of the Republic of Iraq to the agreement of the Asian Investment Bank for Infrastructure, after preparing the authorization from the Ministry of Finance, and paying Iraq’s contribution to the bank’s capital, among the allocations of the general federal budget to the Ministry of Finance ( for the year 2021) through the transfer procedure.

According to a statement by the General Secretariat of the Council of Ministers: The decision also included limiting Iraq’s share of the shares in the Asian Infrastructure Investment Bank to the upper limit, with (250) shares of the capital, which will be (50) shares paid, equivalent to (20%) and remain (( 200) shares equivalent to (80%) are not paid and when called.

Source: National Iraqi News Agency