British Export Finance Corporation: Funding projects in Iraq worth $1.5 billion in various fields

Baghdad The British Export Finance Corporation revealed that projects in Iraq are financed with a value of (1.5) billion dollars in various fields, and there is a new possibility to finance new projects.

A statement by the Ministry of Planning stated that its Minister, Khaled Battal Al-Najm, met today, Thursday, the Director of International Trade at the British Export Finance Corporation, “James Gallagher” and his accompanying delegation, in the presence of British Ambassador Stephen Hickey.

During the meeting, the Minister of Planning stressed the heritage and depth of relations between the two countries, which extend for a hundred years, indicating the existence of many prospects for joint cooperation in the economic, commercial, scientific and cultural fields, pointing out that there are a number of projects being implemented in Iraq, which are funded by the British loan, from among them are Dhi Qar and Samawa power stations, a water desalination project in Basra, and a sewage project in Babylon Governorate.

The Minister pointed out that the ministry will present a list of projects within the next year’s budget, which will be financed by the British loan, according to the development, service and economic priorities determined by the Ministry of Planning, adding that there are two memoranda of understanding being worked on with the British side, the first in the field of standardization and quality control and the second in the field of administrative development.

For his part, the Director of International Trade expressed his high appreciation for the efforts of the Iraqi government, and what it was able to achieve during the past year in the field of economic reform and project implementation, stressing the readiness of the British Export Financing Authority to provide more support for these efforts, through loans and credit facilities it provides to Iraq, revealing about financing projects worth (1.5) billion dollars in various fields, and there is a new possibility of financing new projects.”


Source: National Iraqi News Agency