Iraq Signs An Agreement With An International Bank To Finance A Power Plant Maintenance Project
Minister of Finance, Taif Sami, signed an agreement to finance the maintenance project loan for the Ministry of Electricity’s stations with JPM Bank, in partnership with (GE) General Electric International Inc., within the annual maintenance project (fifth phase, PUP5/B, at a total cost estimated at (257) million dollars. A Ministry statement
stated Finance: The signing of the agreement falls within the framework of the fourth axis of Article Two / State General Budget Law, and based on Cabinet Resolution No. (23588) of 2023, in which the Minister of Finance is empowered to sign the loan financing agreement for the project with JPM Bank and with the guarantee of the Export-Import Bank.
The Minister of Finance indicated during the signing ceremony, according to the statement, that “financing the project loan will contribute effectively to increasing the efficiency of electric power generation plants in Iraq, which will reflect in the interest of raising energy productivity and thus reducing the gap between supply and demand in energy and bridging The needs of citizens in all governorates.” https://www.radionawa.com/all-detail.aspx?jimare=3624
No comments:
Post a Comment