Cabinet allocates three billion dinars for electricity projects

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The Iraqi Council of Ministers decided that the Ministry of Finance will allocate 3 billion dinars (2.5 million dollars), from the emergency reserve to the budget of 2017, for the Ministry of Electricity.
The General Secretariat of the Council of Ministers said in a statement that the amount allocated for the purpose of covering the needs of “electricity” of the necessary requirements for distribution projects from the companies of the Ministry of Industry and Minerals.
She pointed out that the decision comes to ensure the provision of electricity to all citizens on a continuous basis.
In August, Japan agreed to provide a $ 195 million loan to the electricity sector in Iraq through mutual memoranda to rehabilitate the second phase of the Haretha thermal plant in Basra.
Iraq’s Prime Minister Haidar al-Abadi said in February that his country had signed an agreement with ABB worth $ 500 million to implement energy projects.
Iraq is in the process of reconstruction and rehabilitation of the country’s exhausting infrastructure, recently signed loan agreements to repair electricity networks, with companies in English, Japanese and Swedish. As well as signing loan agreements with the countries of France, the Czech Republic, the German Development Bank and the IMF loan in 2016.

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