Baghdad: The Council of Ministers has given the green light to the Ministry of Finance to enter into a loan agreement with banks. This agreement will be backed by the German Export Credit Agency and a number of other international companies, with the aim of advancing the Ministry of Electricity’s initiatives.

According to National Iraqi News Agency, the loan is intended to support the installation of three secondary stations with a capacity of 400 KV and five stations with a capacity of 132 KV. These installations are part of the second phase of energy cooperation with the German company Siemens, a significant step in enhancing the country’s electrical infrastructure.