World Bank lends Iraq billion and $ 200 million

12/18/2015 08:58

BAGHDAD / Obelisk: approved by the World Bank, to give Iraq a loan of one billion and 200 million dollars, in order to help Baghdad to control its finances, after falling oil prices and increased security costs.

According to what reported "Sky News", noted the Bank, in a statement, the start of the Iraqi government reform program described Balsarm, saying that the aim of the loan is to finance development policies aimed at fiscal consolidation, and the provision of sustainable energy, as well as enhance the transparency of state-owned enterprises .

The bank said that the loan will be used to repair several areas, the most important public sector wage system, and the reduction of gas flaring operations, and expansion of electricity generation activities through the use of gas, and reduce spending on energy subsidies, and support transparency in state institutions, as quoted by AFP.

The bank pointed out that the current financial commitments in Iraq rise to about two billion dollars, including $ 355 million for the development of transport systems and road safety and $ 350 million for the reconstruction and rehabilitation of the municipalities affected by the recent conflict.