KRG to Borrow Internationally

By John Lee.

BasNews, citing an anonymous source, reports that one German and one American bank have expressed interest in lending to Erbil, if it proves its ability to repay the loan and interest.

The KRG Parliament recently passed a bill allowing the government to borrow up to $5 billion (6 trillion iraqi dinars), at an interest rate of up to eight percent, from international banks; President Barzani is expected to approve the bill soon.

(Source: BasNews)

(Bonds image via Shutterstock)

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