Iraqi Finance Minister said an agreement has been signed with JPMorgan Bank to finance projects to repair Iraqi power plants. “This will increase electricity generation,” he said.
An agreement has been signed with JP Morgan Bank to finance the repair and reconstruction of several power plant projects in Iraq, Finance Minister Taif Sami told the Iraqi News Agency on Tuesday.
He said the bank has provided $257 million in loans to Iraq to increase electricity generation and supply electricity to Iraqi regions.
“The level of electricity production in Iraq is 23,000 MW, while we need 35,000 MW to supply electricity to the whole of Iraq, and this project will reduce part of the energy shortage,” he said.”
Some experts said the signing of the agreement with JPMorgan Bank will have a positive impact on various sectors of manufacturing, services and development, while helping to increase the level of investment in Iraqi sectors .
