Abadi adviser confirms the terms of the World Bank in response to Iraq

12/22/2015 (00:01 pm)

BAGHDAD / Zahraa Hamid

He stressed the economic advisor to the Prime Minister Haider al-Abadi, on Monday, that Iraq is the rest of the implementation of the conditions imposed by the World Bank in exchange for lending, and pointed out that the loan, which is estimated at one billion and 200 million dollars will go basis mainly for power plants and productive sectors, as called for an economist to the need transforming the Iraqi economy to industrial, agricultural and activating the private sector.

He said the appearance of Mohammed Saleh, in an interview for the (long-Presse) that "the World Bank conditioned on Iraq not to waste natural gas in order to agree to lend," noting that "the government has pledged to the bank's commitment to Bstratejah energy through which to stop the waste of natural gas associated entirely in 2030, the existence of projects to take advantage of it. "

Saleh added, "The World Bank has also stipulated that the activation state-owned enterprises, which works by the Cabinet four months ago where approved a program to activate a number of industrial and oil and service companies," adding that "Iraq will be so may do the conditions requested by the World Bank ".

Saleh pointed out that "the World Bank loan, which is estimated at one billion and 200 million dollars, will go primarily the basis for investment projects for electric power, also will be assigned part of it for the purposes of producing that occupy the hands of the worker, not for salaries or wages," stressing the importance of "the loan being can Iraq borrowing of global capital markets guaranteed by the World Bank. " It is noteworthy that the Ministry of Finance, announced on Saturday (19 December 2015) present for the signing in Washington, the World Bank's $ 1.2 billion loan agreement, indicating that Iraq will get the loan before the end of this year.

For his part, said economic expert on behalf of Antoine, in an interview for the (long-Presse) that "the World Bank called on Iraq to restructure its economy, and to stop the appointments and other things to improve the economic situation and stop the corruption, and activating the producing companies to the Ministry of Industry and Minerals."

Antoine said, that "Iraq is now going through a very difficult phase to achieve these improvements," pointing out that "the World Bank usually propose to the borrowing countries implement specific programs, but the last part of it implemented or implemented in stages."

And he saw an economist, that "Iraq should radically change the pattern of its economy, and converts it to an oil yield of agricultural and industrial does the role of the private sector, to create jobs and increase gross domestic production."

The World Bank, has announced his agreement to give Iraq a loan of one billion and 200 million dollars to assist in controlling the financial and energy sector to improve conditions, and to compensate the decline in oil prices and rising security costs.