By John Lee.
The World Bank will reportedly lend a total of $200 million to Iraq for upgrades to its electricity grid.
According to Basnews, the agreement was signed by Finance Minister Fuad Hussein and Yara Salim, a representative to the World Bank.
“There will be attempts to address the problem of power supply in Basra province and surrounding areas in collaboration with the World Bank,” the Iraqi minister added.
Iraq is expected to implement the projects within five years, and repay the debts in ten to 15 years.