Central: Islamic Bank undertakes to finance Iraq 's $ 3 billion

Views 50 Date Added 26/05/2016 - 17:30

Economy News / Baghdad ...

Iraqi Central Bank announced on Thursday, for receiving a pledge from the Islamic Bank to finance Iraq's US $ 3 billion, while noting that these amounts are soft.

The bank said in a statement that "the economy News" received a copy of it, "he got the first pledge from the Islamic Development Bank funded Iraq amounting to $ 3 billion."

The bank added that "the amount to be submitted by the Islamic bank will be in grants and soft loans."

The Islamic Development Bank Islamic financial institution aimed at supporting economic development and social progress for the peoples of Member States and Islamic communities, non-member states, according to the principles of Islamic Sharia and reached the bank expenses since its inception until November 2014 around 61.52 billion dollars.

Iraq is seeking to obtain loans from international financial institutions to finance the general budget and bridging the deficit following a drop in oil prices dramatically.

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