The World Bank will lend Iraq $ 4 billion and "consultations Washington" will enable it to diversify its economy

2016-10-10 23:50:23 | (Voice of Iraq) - Baghdad

Affirmed the financial advisor to the prime minister, Haidar al - Abadi, said Monday that consultations fought by Iraq with the IMF and World Bank mission, resulted in getting loans is estimated at $ 4 billion over three years, while between it saw the agreement on the support of government 's reform program , including help Iraq to overcome the dependence on oil and combat corruption problems.

He said the appearance of Mohammed Saleh, said that "Iraq 's consultations with the International Monetary Fund and World Bank , which concluded today, in Washington DC, was positive and successful , " adding that it "will allow Iraq access to soft loans from the World Bank estimated at four billion dollars over the past the next three. "

Saleh added that "consultations provide for Iraq on a new batch of the International Monetary Fund during the current year 2016, with an estimated B643 million, out of a loan fund of three billion and 500 million dollars."

He explained the financial advisor to Ebadi, " The consultations focused on evaluating the work of financial and monetary policies in the light of the government 's reform program, which will be, according to the reform document, announced by Prime Minister Haider al - Abadi, both in economic management and the fight against corruption or in the Iraqi public financial governance."

Saleh continued, that "consultations saw agreement on the support of the reform program of the government, so as to help Iraq to overcome the dependence on oil and the fight against corruption and its waste problems," she returned to " the success of consultations adds new strength to the victory of Iraq on Aldaasha terrorism and the reconstruction of our country after the expulsion of its remnants."

And come Iraq 's negotiations with the International Monetary Fund and the World Bank mission to complement the first review, it has continued in Washington , DC , for the period from the sixth to the tenth of October , the current 2016.

Iraq had happened in July 2015, a payment equal to about one billion and 240 million dollars, through the "rapid funding , " a tool for the International Monetary Fund

Iraq and delivered by mid - July 2016, about $ 634 million, representing the first installment of the IMF loan, immediately after the IMF Executive Board approval, in ( the seventh of this month), on the standby credit agreement with Iraq, noting that the term of the loan is five years low annual interest rate of one and a half percent (1.5%), and that the number of payments is 13 batch stretches over 36 months.

It is noteworthy that Iraq has agreed with the International Monetary Fund and World Bank to provide financial umbrella him up to $ 20 billion, to overcome the financial crisis as a result of the sharp decline in oil prices and the war against (Daesh).