Parliamentary Finance: Iraq is seeking to borrow $ 379 million from Japan
Date: 10/22/2015 15:53

Parliamentary Finance Committee, confirmed Sunday that Iraq is preparing to borrow $ 379 million from Japan in order to set up plants for electric power generation in the country.

The committee member said Sarhan Ahmad told / information / "The Council of Ministers authorized the Finance Minister Hoshyar Zebari and representatives from the Ministry of Electricity to negotiate with Japan over the ability of 379 financial loan for the establishment of power stations secondary and mobile power generation in the country."

He added Sarhan (a deputy from the Kurdistan Alliance) that "the loan will contribute to the provision of money for the budget that the Iraqi Finance in order to establish service projects to citizens," pointing out that "the benefits of high loans that will fall upon the Iraqi economy, causing an increase in the financial inability."
The face of the Council of Ministers to grant the finance minister, Hoshyar Zebari, to negotiate and sign the financial borrowing from abroad to cover government expenditures. Finished / 25's