Iraq gets initial accord for $3 billion Islamic Development Bank loans
The Islamic Development Bank has given its initial agreement to provide $3 billion in easy loans and grants to Iraq, helping the nation cope with a sharp decline in oil revenue, a central bank spokesman in Baghdad said Thursday in an email. The spokesman did not give further details. Iraq earlier this month agreed a […]The Islamic Development Bank has given its initial agreement to provide $3 billion in easy loans and grants to Iraq, helping the nation cope with a sharp decline in oil revenue, a central bank spokesman in Baghdad said Thursday in an email.
The spokesman did not give further details.
Iraq earlier this month agreed a $5.4 billion standby loan with the International Monetary Fund. Finance Minister Hoshyar Zebari, announcing the agreement on May 19, said the IMF loans could unlock $15 billion more in international assistance over the next three years.
