Iraq and Germany Amend Loan Agreements for Development Projects

By John Lee.

Iraq has signed an amendment to the loan agreements provided by the German Development Bank (KfW) to finance several developmental projects.

The signing ceremony last week was attended by Finance Minister Taif Sami Mohammed and the bank's representative to Iraq.

The new amendment includes extensions for the disbursement period of the loans for the following projects:

• Rehabilitation of Infrastructure for Electricity Supply in Liberated Areas (Phase III): The loan agreement amounting to €140 million has been extended until January 15, 2027.
• Rehabilitation of Infrastructure for Roads, Bridges, Water, and Sewage Systems: The loan agreement amounting to €90 million has been extended until December 31, 2026.

These extensions are aimed at ensuring the continued development and completion of essential infrastructure projects in Iraq, contributing to the country's overall reconstruction and growth efforts.

(Source: Ministry of Finance)