Commercial Bank: the next phase will see the completion of the projects at a cost of eight billion dollars

2016/03/09 (00:23 pm) - hits: 55 - number (3594)

 Baghdad/Acer Jabbar

Announced the Trade Bank of Iraq (TBI), on Tuesday, the next phase will experience projects in Iraq at a cost of eight billion dollars, said that including airports and infrastructure projects, the Bank called for Arabic to finance projects as investment opportunities.

The Director General said the Trade Bank of Iraq (TBI) hamdiya JAF (range), that "the Bank is working on projects with more than eight-billion-dollar giant projects such as the establishment of airports and infrastructure projects", stating that "such projects will help support the country's economy."

Dry banks called for Arabic and funds "to finance such projects as investment opportunities in accordance with the new rate investment law addressing all problems and grant opportunities accessible to investors now than ever", asserting that "Iraqi banks and Arabic has a role in supporting the country's economy and build Iraq and this count during the next phase which Iraq needs to gesture more than ever."

Dry followed "the year 2016, is a pivotal moment for the efforts of the Iraq strategy to maintain economic progress and the development of new funding opportunities the Government seeks access to structural and management reforms, which is long overdue and that when implemented will reveal the enormous investment potential in economy and preparing for enlargement", noting that "the Iraqi economy proves to be remarkably flexible and reflected in an increased focus on providing security and promoting transparency.

Dry stressed that "Iraq is open to privatization, providing new opportunities for FDI in industries particularly sought international partners to modernize the infrastructure for financial services", adding that "the country has become less dependent on oil revenues and that Iraq seeks to establish new partnerships to deal with a number of urgent political and financial issues and infrastructure projects and a fund to support oil and gas, electricity and transport projects.

It is worth noting that Iraq live a financial crisis due to falling oil prices and war Organization (daash), what is the impact on the budget of the country, shut down the majority of projects.