Authorize the Minister of Finance the authority to negotiate and sign a loan agreement of the Islamic Development Bank

Posted by on Jan 09, 2014 | Leave a Comment

Alsumaria News / Baghdad
announced that the General Secretariat of the Council of Ministers, on Tuesday, for authorizing the Minister of Finance the authority to negotiate and sign a draft loan agreement for the Islamic Development Bank and $ 500 million. Secretariat said in a statement received “Alsumaria News”, a copy of which, “The Council has decided to build the submission of the Prime Minister in an emergency during a cabinet meeting, the usual fourth session held on December 31, 2013 to authorize the Minister of Finance the authority to negotiate and sign a draft loan agreement for the Islamic Development Bank – Jeddah for the Republic of Iraq. ” Secretariat added that “the amount of the loan will reach 500 million dollars , “indicating that”

the project will be presented later to the cabinet in one of the sessions to come. ” The Islamic Development Bank, an international financial institution established in pursuance of the Declaration of Intent issued by the Conference of Finance Ministers of Muslim Countries held in Jeddah, and the bank aims to boost economic development and social progress of the peoples of Member States and Muslim communities in non-member countries, collectively and individually, and in accordance with the principles of Islamic Sharia. 

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