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Iraq gets $257mn Loan from US Bank for Maintenance of Power Facilities

Iraq has signed an agreement with the US bank JP Morgan Chase &Co to finance a $257 million loan to fund maintenance of its power facilities.


The official media said Finance Minister Taif Mohammed signed the loan agreement as per the cabinet decision allowing the Ministry to seek loan for the project.


Mohammed said the loan would be used to fund maintenance services for various electricity supply facilities in Iraq with the aim of upgrading their efficiency.


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