The largest global body (IFC) to declare support for the dev

[Stillw8n]

The largest global body (IFC) to declare support for the development of the Iraqi private sector $ 800 million

Revealed a senior official at the IFC, on Thursday, the Foundation plans to pump for about $ 800 million, mostly in the energy sector and banks in Iraq over the next three years to contribute to the support of development in the private sector.

Rashad said Chaldean Vice President of the Foundation in a statement received “Twilight News” copy of “The IFC will primarily focus on the sectors of gas, electricity generation, banks and building materials as well as agriculture and housing.”

Iraq has received a lot of loans from international destinations in addition to the waiver of many countries for debts owed by Iraq in 2003 allocated Organization (JICA), the Japanese government, a cooperative organizations interested in helping countries in need, the amount of $ 3.5 billion in financial assistance to take mostly the form of loans to re- construction projects that included the pledge loan is funded by the sectors of health, tourism, oil, electricity, water and transportation .. Perhaps the latest loan is approved by the International Monetary Fund last March by about $ 250 million for economic development projects in government projects.
The Chaldean he “will be allocated between 300 000 500 million of the capital of the new loan projects collect the gas being burned now in the oil fields,” pointing to the need for infrastructure in Iraq for the rehabilitation of a comprehensive after decades of wars and economic sanctions “and that investment is necessary in all sectors. “

The Deputy President of the Foundation that “one of the biggest obstacles in the way of development in Iraq, is the bureaucracy, and poor performance of the financial sector.”

The IFC is the largest global body for development, focusing on the private sector in developing countries, and opened its first office in Iraq in the year 2011.

http://bit.ly/sfmJay