The Council of Ministers decides that Al-Rafidain and Al-Rasheed Banks and (TBI) will undertake lending to the KR Government

Key Issues

The Council of Ministers decided in its session held today that the Rafidain and Rasheed Banks and (TBI) will undertake to lend the Iraqi Kurdistan Regional Government an amount of two trillion and one hundred billion dinars for the current fiscal year, to be paid in three equal installments at (700) billion dinars for each installment, starting from the month of September.

The Council of Ministers decided that the Federal Ministry of Finance will pay the loan amounts to Kurdistan from the region’s allocations in the federal general budget for the fiscal year 2023, after settling what it owes.

Source: National Iraqi News Agency