Parliamentary Finance: World Bank granted on condition of exchange in the fields of energy

12.26.2015 at 11:05 (GMT Baghdad)

Special - scales News
Stressed the Finance Committee in the House of Representatives member Hossam punitive, Saturday, that the theme of the World Bank grant of Iraq took another aspect in the media, noting that the World Bank when it gives a grant or a loan is required disbursement in certain aspects, he explained that the bank requires Exchange awarded in the fields of energy.

He's punitive / scales News /, "The theme of the International Bank of Iraq not as a grant deliberated in the media and that turned out last," pointing out that "the World Bank conditions are not so severe."

He added that "the International Monetary Fund or the World Bank when he gives the loan takes into account the issue of where the disposal of these loans, and wants her to act as grants and salaries or such, which is called (exchange is the product)", noting that "the World Bank and the International Monetary Fund and the situation In the first of their business need to conduct these loans in the areas of energy. "

Punitive pointed out, that "the World Bank emphasizes the need to employ the financial and economic capacity in Iraq even taken advantage of this loan," explaining that "the condition of the bank to develop a plan to prevent associated with the extraction of crude oil gas flaring."

The Executive Directors of the World Bank board approved in December 17 2015, to provide a loan of $ 1.2 billion for Iraq.

And always warns supreme religious authority and economic experts of the consequences of external borrowing, which ranks the country's major financial burden in the future. / Ended 29 n / 10