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FINANCIAL NEWS
Iraq to seek loans of USD 20bn to rebuild
15 Jun 2016
(MENAFN) Iraq will look for loans of almost USD 20bn in the coming three year in order to rebuild its infrastructure and carry out development projects.
Meanwhile, the country would seek loans from the IMF, World Bank and the Islamic Development Bank to cover the costs of fighting militant group.
Moreover, it seeks loans of USD 20bn, as war losses value to USD 7bn yearly, which funds 3 to 5 percent of gross domestic product.
In addition, Iraq reached a USD 5.4bn deal with the IMF that could unlock USD 15bn more in global assistance among the next three years.
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