Commercial Bank: the next phase will see the completion of projects at a cost of eight billion dollars
Announced the Trade Bank of Iraq (TBI), that the coming stage will witness the completion of projects in Iraq at a cost of eight billion dollars, and as he emphasized that including airports and infrastructure projects, called on Arab banks to finance projects as investment opportunities.
The Director General of the Trade Bank of Iraq (TBI) Hamdiya dry, that the bank is working on the completion of projects of more than eight billion dollars, including major projects such as the establishment airports and infrastructure projects, “indicating that” those projects that will help support the country’s economy.”
Dry Arab banks and money funds and called for “the financing of these projects as investment opportunities, according to the new law of the amended investment that addresses all the problems and gives opportunities accessible to investors now more than ever,” asserting that “the Iraqi and Arab banks have a role in supporting the country’s economy and the rebuilding of Iraq. This what count during the next phase in which Iraq needs for their support more than ever.”
Dry and added that “the year 2016 is a pivotal moment for the efforts of Iraq’s strategy to maintain economic progress and development of new funding opportunities and the government seeks to gain access to structural and administrative reforms, the long-awaited, which when implemented will reveal investment potential enormous in the economy and is preparing for expansion,” pointing out that “Iraq’s economy is proving to be resilient significantly and this is reflected in an increased focus on providing security and promoting transparency.”
She stressed dry that “Iraq is open for privatization and provide new opportunities for foreign direct investment in industries and seeks, in particular with the renovation of infrastructure for financial services of international partners,” adding that “the country has become less dependent on oil revenues and that Iraq seeks to establish new partnerships to deal with a number of urgent financial and political issues and infrastructure projects and a fund to support oil and gas, electricity and transportation projects.”
It is noteworthy that Iraq is experiencing a financial crisis due to falling oil prices and the war against al (Daash), the impact on the budget of the country, and caused the suspension of the majority of the projects.
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