Iraq is heading towards the method of financing projects in a payment on credit
Waiting to provide an opportunity to achieve economic growth
Baghdad - Yasser incumbent
moving Iraq toward a method of financing projects in a payment on credit at a time when most international companies showing interest to invest in it. This is funding one of the methods used and applied by many countries of the world, particularly those that aspire to establish a project strategy increases the total cost for its existing capabilities, and comes this way as an application for a development theories known theory of the strong push, which is the idea in the presence of a large program and condensed in the form of a minimum investments imposed to overcome the obstacles to development and put the economy on the path of self-growth. potential question the most prominent here is that Iraq lacks the financial resources to pursue a method of financing projects in a payment term?. the answer to this question is met with economic morning with an economist as Abdul Hadi, who explained that the Iraq prepared a project to work the method of financing payment term for the completion of a number of strategic projects, particularly in infrastructure, which represents a detailed important joints of economic development. retreat infrastructure Abdul Hadi pointed out that the infrastructure in Iraq has seen a noticeable decline over the past decades as a result of wars, neglect, lack of perpetuation or development.
He said that most studies on this subject indicate that the amount of funding required to restore the infrastructure as it was at the beginning of the eighties is estimated up to $ 180 billion and if we take into consideration the expansion witnessed by the Iraqi economy and the size of the population increase, this increase shows that the amount of funding What is needed is more than that figure. financing of projects and whether the return of Iraq is not enough to cover the requirements of the re-infrastructure? confirms economic expert as Abdul Hadi that returns the current Iraq and despite the potential offered by the only she is able to bring desired development in the light of the significant need to infrastructure and by recourse to project finance-style payment term will provide the opportunity to achieve economic growth in the real side of the economy and provides thousands of jobs and working to attract foreign investment, but Abdel Hadi called in turn to be careful in using this method by selecting companies sober and well-known internationally as well as focus on infrastructure projects and strategic projects and Abdel-Hadi said Iraq is investigating his move this success and will be the beginning to achieve comprehensive economic development will change the features of the Iraqi economy as reflected positively on the Iraqi citizen.
Turkish experience and about that what is stopping you from using the style of project financing payment term? to answer this question met with economic morning with the regional director onal Akpinar Turkish contribution in Iraq, Shawki Jaber as he leads one of the leading Turkish companies in Iraq and the specialized infrastructure projects Vhaddtna saying: I will talk about this subject as an Iraqi first, is keen to see his country grow and rise from? collapse to catch up the new world and say that the growth and development achieved by the neighbor, Turkey, was due to adopt a method of financing projects in a payment term and the technique cause for the development of Turkey and then the evolution of its sober known that implements a number of Almhaya here in Iraq and all over the world.
He added, however, challenge the biggest we have seen here is that this technique requires a government guarantee and (bank guarantee) with a solvent known in the world to enable companies sober of the adoption of its facilities and the confidence of the world has to provide requirements and requirements for implementation of projects.
Payment mechanisms on credit , and here in Iraq is not complete is the mechanism by which agreement on the payment method on credit did not find a limited able to tell us of this mechanism to display the potential of our company that carried out the longest tunnel in the world potentials technological many. bank underwriter needs this approach by the Iraqi government to provide guarantees for global companies through agreements and to clarify the verses, guarantees and thereby promoting the implementation of projects.
He said we have the capabilities to implement the biggest and most complex infrastructure projects in Iraq, but we are looking for the guarantor (bank guarantee) with the support of the government. Iraq a better investment environment and to the question about the reasons for testing Iraq's investment company said that in Iraq, great potential and promising future, and that major corporations the world Looking for potential and found that Iraq is the best environment in the future.
He touched on the mechanisms for the use of this method in the Turkish experience, pointing out that the government is working to stimulate companies to implement large projects through the facilities and guarantees provided by these companies and thus created a lot of competition between the companies, which holds the various strategic projects in Turkey and abroad through government guarantees to companies, whether in Turkey or abroad. It should be noted that the Prime Minister had? called during a meeting with a number of international companies to invest in Iraq in a payment term and pledged to support this approach and provide the required guarantees.