Iraq Approves Loans from France for Sewerage Projects

By John Lee.

The Iraqi Council of Ministers has authorised the Minister of Finance, or her delegate, to sign a loan agreement with the Agence Française de Développement (AFD) to finance the Al-Hamza District Sewer Project in Al-Diwaniyah Province.

This approval falls under Federal Budget Law No. 13 of 2023, covering fiscal years 2023-2025, for the benefit of the Ministry of Construction, Housing, Municipalities, and Public Works.

Additionally, the Council approved an amendment to Resolution No. 356 of 2021, which includes:

• Authorising the Minister of Finance to sign an amendment to the additional financing loan agreement for the Al-Khalidiya Sewerage Project, funded by AFD, under the same budget law.
• Authorising the Minister of Finance to sign the additional financing agreement for the project.

AFD, the French Development Agency, is a public financial institution that implements France's development and international solidarity policies.

(Source: PMO)