UK to loan $12.3 billion to Iraq for infrastructure projects

7 March 2017

”Britain agreed on Sunday to arrange 10 billion pounds ($12.3 billion) in loans to finance infrastructure projects in Iraq over a 10-year period, a program that would only benefit British companies, an Iraqi minister said in Baghdad.”

Mosul exodus grows as Iraqi army advances towards Isil-held old city centre

”On Sunday, Britain agreed a £10 billion loan for reconstruction projects in Iraq over the coming decade.  The funding would only benefit British companies, and is earmarked for specific projects including water, sewage, electricity, healthcare and transport.

“For the United Kingdom this is a further evidence of the bilateral support that we are giving and continue to give to Iraq, to help Iraq move forward to recover from the ravages of Daesh,” British ambassador Frank Baker said using Isil’s Arabic acronym.

Much of the country’s infrastructure has been damaged and neglected in the 14 years since the 2003 US-led invasion of Iraq.”

GW:  Thanks to Gideon for the links and the information.  Gideon happened to mention this 10 Billion Pound Loan to Iraq that the UK agreed to in March 2017 over breakfast this morning.  The remark took NLAT so much by surprise that he dropped the breakfast teapot just as he was pouring his second cup.  The remark caused further consternation at Watch Under the Willows – The Postman gasped; the Milkman’s eyebrows shot up under his cap; the Car Wash guy was positively fuming having just been forced into self-employment – that we thought it deserved to go out to a wider audience.

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