US to provide $2.7bn Military Finance Credit for Iraq

By John Lee.

The United States is to extend a $2.7-billion foreign military finance credit facility to Iraq.

According to reports from Associated Press, the deal will allow Iraqi security forces to defer payment for the purchase of ammunition and maintenance of its F-16 aircraft and M1A1 Abrams tanks.

The agreements grants Iraq a one-year grace period and 8 1/2 years in all to pay for military purchases.

(Sources: UPI, AP)

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