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Most infrastructure projects are financed through investments, official says

Category: Economy

Date: 2021-10-13T10:07:01+0000
Most infrastructure projects are financed through investments, official says

Shafaq News/ The National Investment Commission in Iraq revealed that most infrastructure projects that were signed are financed through investments instead of the general budget, as was the case in the past.

The head of the commission, Suha Al-Najjar, told Shafaq News Agency, "The majority of the previous infrastructure projects were financed through the budget and government funds. However, all the contracts that were signed during the current year are financed through investments."

Al-Najjar added, "the commission grants the investment license to the winning company, so that the concerned company finances the work through its own sources, and therefore the government does not bear any financial expenses for these projects."

"The state signed a series of important contracts this year in the electricity and clean energy sector, including ones with Total company, Egypt, the UAE, and the Norwegian Scatec company," she said.

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