Parliamentary economy: World Bank loan will contribute to the development of national industry

2016/8/18 12:30

{Baghdad: Euphrates news}

HC economy Committee Vice President alniabbh, Harith Al-Harthy, said Thursday that the World Bank loan will contribute to the development of local industry and raise revenue.

Saaed said {Euphrates news} to modify Law No {13} year {2006} investor ensures larger economic spaces in terms of work and opening up to the country's economy and domestic industry for upgraded especially she was late for production and decayed somewhat in the past period. "

He added that foreign investment in the country will encourage national industry by putting up the best of the market, which creates a kind of competition, and thus would have positive returns on the economy, "pointing to" work to resolve difficulties for investors and provide the proper environment for them. "

He noted that "the World Bank loan distributed variably on land and agrarian and investment banks, it is a kind of local industry development open projects for those interested.

He was a member of the parliamentary Finance Committee Haider Al Kaabi said in an earlier statement for {Euphrates news} that "the World Bank loan granted to the actual need for oversight and Iraq is my solution to the crisis," likely to "exploit the loan funds to fill the gap in salaries while the loan is dedicated to promoting health and agricultural units and infrastructure.

The IMF, World Bank, and international partners had agreed to give Iraq a loan of over $ 1 billion {15}