Iraq - 03

Iraq: Baghdad’s World Bank Package and IOC Payment Prospects

On 12 July the World Bank confirmed its $350mn Emergency Operation for Development loan agreement with Iraq, the first of three tranches of new aid to the country. The 15-year loan has a low 1% interest rate and a five-year grace period. The Emergency Operation for Development agreement is intimately tied to the coalition war effort in Iraq and aims to facilitate the resettlement of internally displaced persons in areas recaptured from the Islamic State of Iraq and the Levant (ISIL).

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