Britain gives Iraq $ 117 million to finance energy projects

Economy access_time 2017/08/09 17:46 chat_bubble_outline Number of readings: 125

Baghdad today

LONDON (Reuters) – The British government announced Wednesday that it will provide $ 117 million to help build two gas-powered plants in Iraq.

“The UK export credit arm will provide $ 117 million (90.03 million pounds) in funding to General Electric and Enka Oak to help build two gas-powered plants in Iraq,” the government said in a statement quoted by the New York Times.

“The United Kingdom will support the early stages of building two 750 MW solar power plants,” the statement said.

“Although Iraq is a major producer of oil, it faces a chronic shortage of electricity as it struggles to maintain a fragile power grid to provide citizens with years of war, sanctions and neglect,” the New York Times said.

“Britain agreed last March to allocate 10 billion pounds to fund infrastructure projects in Iraq over ten years, a program that will benefit only British companies.

Source: nytimes


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s