Britain floats $12 billion infrastructure loan to Iraq to finance projects that benefits only British corps. Once again, US on the outside of any Iraqi deals after all we’ve done for them – PB/TK
Iraq to get 10 billion pound loan for British contracts – By Ahmed Rasheed March 5, 2017
BAGHDAD (Reuters) – Britain agreed on Sunday to arrange 10 billion pounds ($12.3 billion) in loans to finance infrastructure projects in Iraq over a 10 year period, a program that would only benefit British companies, an Iraqi minister said in Baghdad.
The two countries signed a memorandum of understanding in the Iraqi capital that serves as a framework to provide up to 10 billion pounds in funds to specific projects during this period, including water, sewage, electricity, healthcare and transport.
“This loan is exclusively allocated to British companies,” Iraqi Acting Finance Minister Abdul Razzak al-Essa told a news conference at the signing ceremony. Interest rates will be set when the contracts are agreed, the minister said.
Britain is a main partner in the U.S.-led coalition helping Iraq defeat Islamic State, the hardline Sunni group that overran about a third of the country in 2014.
Continue to oann.com article: http://www.oann.com/iraq-to-get-10-billion-pound-loan-for-british-contracts/
