Iraq Signs An Agreement With Germany To Develop The Electricity Sector In Liberated Areas

BAGHDAD, IRAQ (NINA) - Iraq and Germany signed a loan agreement worth 45 million euros to develop the electricity sector as a first stage of the German loan of 500 million euros. On the sidelines of the signing of the agreement with the German Development Bank (KFW), Minister of Electricity Qassim Al-Fahdawi said: "The government seeks to raise the level of services in all sectors on the one hand and promote the development of the country on the other hand, pointing out that the funding will be according to the projects carried out by the Ministry under the instructions of KFW and under the supervision of a consulting company appointed as part of the German government grant to support the management of the loan. For his part, the Secretary-General of the Council of Ministers Mehdi Al-Alaq said, "Iraq is completing details about the German loan, which was already agreed between Prime Minister Haider Abadi during a meeting with German Chancellor Merkel, noting that the duration of the implementation of the terms of the loan covering the period between (2018-2020) , focusing on the development of water, electricity and sanitation projects, especially in liberated areas. " For his part, the representative of the German Embassy said that the agreement between Iraq and Germany constitutes an important framework in the light of which new loan agreements will be signed supporting the required projects. He expressed the hope that this step will contribute to the development of infrastructure in Iraq and contribute to the return of displaced persons to their areas. The Ministry of Finance signed, on behalf of the Iraqi government in addition to the agreement, which was allocated for the rehabilitation of power plants in Mosul, financial agreement for the German government's grant to use an administrative consultant to support the reconstruction fund of the areas affected administratively in the management of loans again./ End