Iraq Approved for $3bn Islamic Development Bank Loan

By John Lee.

Reuters quotes a central bank spokesman as saying that the Islamic Development Bank (IDB) has given its initial agreement to provide $3 billion in easy loans and grants to Iraq.

Iraq earlier this month agreed a $5.4 billion standby loan with the International Monetary Fund (IMF) in a deal that could unlock $15 billion more in international assistance over the next three years.

(Source: Reuters)

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