SIGN UP FOR THE BREITBART EMAIL NEWSLETTER

Iraq To Get 10 Billion Pound Loan for British Contracts

(REUTERS) – Britain has agreed to arrange 10 billion pounds ($12.3 billion) in loans to finance infrastructure projects in Iraq over a 10 year period, Iraqi Acting Finance Minister Abdul Razzak al-Essa said on Sunday.

Only British companies can be contracted to carry out projects funded by these loans, he told a news conference in Baghdad. “The interest rate on the loans should be determined by the British companies,” he said. “This loan is exclusively allocated to British companies.”

The two countries agreed to sign a memorandum of understanding that will serve as a framework to provide funds to specific projects during this period, the finance ministry said earlier in a statement.

Read the rest here

P.S. DO YOU WANT MORE ARTICLES
LIKE THIS ONE DELIVERED RIGHT TO YOUR INBOX?
SIGN UP FOR THE DAILY BREITBART NEWSLETTER.


Comment count on this article reflects comments made on Breitbart.com and Facebook. Visit Breitbart's Facebook Page.

SIGN UP FOR THE OFFICIAL
BREITBART EMAIL NEWSLETTER

GET TODAY'S TOP NEWS DELIVERED RIGHT TO YOUR INBOX

I don't want to get today's top news.

x