Iraq gets first funding to rebuild war-struck regions

Iraq and the World Bank signed a $350 million loan agreement on Sunday to fund emergency reconstruction in towns recaptured from Islamic State militants, a deal Baghdad said marked the first international help to rebuild areas devastated by war. Finance Minister Hoshiyar Zebari said around a third of the money would go towards repairing roads and bridges, with a similar amount allocated to restoring electricity networks, water and sewage. Iraq faces a budget deficit of up to $20 billion this year as it grapples with low oil revenues and the heavy cost of war with Islamic State insurgents.

via ynetnews.com

Source: http://www.ynetnews.com/articles/0,7340,L-4679047,00.html

Leave a Reply

Your email address will not be published. Required fields are marked *