Economic parliamentary: Iraq starts to pay the costs of infrastructure law

Center Brief for the Iraqi Media Network (IMN) – Economic Committee in the House of Representatives, said that the federal government will pay the costs of infrastructure law to pay on credit worth five billion dollars in three years after the conclusion of contracts .

Said committee member Najiba Najib’s (IMN) , “The law, which contained the budget in 2015, which reached the House of Representatives regarding payment on credit for infrastructure projects urgent worth five billion dollars to ensure a period of grace to make repayment of the investment companies, three years after the conclusion of contracts . ”

Najib added that “the government and in accordance with the law, they will receive requests from the provinces, including Kurdistan region for the implementation of infrastructure projects is an urgent manner of payment on credit worth does not exceed five billion dollars, that the federal government holds the Overture investment companies and conclude contracts with them that includes a provision to begin to repay the amount of money after three years from the conclusion of contracts . ”

Najib noted that “asylum federal government to put the text of the law in the federal budget on infrastructure projects to pay on credit comes after a drop in oil prices and the lack of ability of the annual budget to cover the costs of implementing infrastructure projects .

The previous parliament had failed to approve the bill of infrastructure provided by the previous government worth up to $ 37 billion because of political differences and fear restrict the Iraqi economy with more financial obligations .

From: Haidar Ibrahim al-Tamimi

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