pproved funding for two projects to produce electricity in Baghdad and Kurdistan(IFC)

The number of visits: 9 Published on: 28/4/2016, 21:55 Published by: Messenger of Delphi

The International Finance Corporation (IFC), on Thursday, agreeing to finance two projects of electric power in Iraq, one in Baghdad and one in the Kurdistan region, and pointed out that the value of the funding will amount to $ 375 million.

Said Dimitris Tstassiragos Vice President of the International Finance Corporation for Services Affairs, one of the arms of the World Bank that finances private sector that "the institution, today approved funding for two projects of electric power in the Sulaymaniyah and Baghdad, at $ 375 million to help provide electricity to millions of citizens in the Kurdistan and Baghdad."

He explained Goss, that "the funds earmarked aims and through Diamond Global Aanerjee Company (Mass Global Energy) Energy, to add 500 megawatts to other power plant in the region, amounting to a capacity of 1000 MW, which processed almost three million people with electricity," pointing out that " The amount also includes the creation of a new power station near Baghdad, which will cover almost half of the capital needs of the electric power. "

He said Goss, "One of the objectives of the International Finance Corporation, is investing in the war-affected countries develop, and Iraq is one of those countries which face the security challenges of Displacement and electric power."

He said Vice President of the International Finance Corporation for Services Affairs, said that "financing is part of the efforts of the International Finance Corporation to support the development of infrastructure in Iraq, which needs to double the generating capacity of electric power capacity in the country by almost 70% to be able to meet the current needs of energy," pointing to "the organization had previously funded a dozen different projects in Iraq, in a number of sectors including telecommunications, industry, water, hotels and others."