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Al Hitti: Kuwait Conference loans are easy and so the World Bank loan will be repaid

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Tuesday, February 20, 2018 | 02:25 pm
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Al Hitti: Kuwait Conference loans are easy and so the World Bank loan will be repaid

Baghdad/... The Director of the Fund for reconstruction of the areas affected by terrorism, Mustafa al-Hitti, said Tuesday that the loans obtained by Iraq at the Kuwait conference were soft loans, indicating that the World Bank loan is divided over 15 years and 1.5 percent interest.

"The World Bank loan that Iraq obtained at the Kuwait Conference, which is 6 billion dollars, is ready to begin after 5 years of loan, divided by 15 years and 1.5 percent, and during this period if there is a dollar inflation that will eliminate the ratio, so this loan In comparison to the country's age and opening of projects and the return of displaced persons is nothing."

"All the loans obtained by Iraq during the Kuwait conference are soft loans and are repaid by distant knives, pointing out that the companies investment will do a great job in Iraq through the maintenance and rehabilitation of industrial houses and companies as well as self-financing factories that weigh heavily on the state. With salaries and these companies will bring big manpower."

The pledges made by the countries participating in the Kuwait Conference on Iraq's reconstruction reached 30 billion dollars on the third and final day, and the aid will be in the form of loans, credit facilities and investment to Iraq to rebuild the war-ravaged country.
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