10 July 2019
OPEC member Iraq has allocated nearly 2.619 trillion Iraqi dinars ($2.2 billion) for development projects in various sectors through 2019, its Planning Minister was quoted on Wednesday as saying.
Nouri Al-Dulaimi said nearly 70 percent of the funds, part of "the annual governorates development programme" had been allocated for the completion of projects that were approved in the previous fiscal year while 30 percent would be used to fund new projects in various governorates.
Education had the lion's share of the funds, receiving nearly 45 percent or around 1.168 trillion dinars ($980 million), the Minister said in a statement carried by Aliqtisad News and other local publications.
The allocations included nearly 183 billion dinars ($154 million) for water sewage networks, 174 billion dinars ($146 million) for roads and bridges, 132 billion dinars ($111 million) for health and 123 billion dinars ($104 million) for electricity. The rest covered water, farming and sports projects.
Baghdad had the biggest share of allocations, receiving nearly 655 billion dinars ($550 million). It was followed by Nineveh, Basra, Dhi Qar, Saladin, Al-Anbar, Diyala, Kirkuk, Wasit and Al-Diwaniyah.
(Writing by Nadim Kawach; Editing by Mily Chakrabarty)
Our Standards: The Thomson Reuters Trust Principles
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
For more data, analytics, tools and news on projects in the Middle East visit the Thomson Reuters Projects portal
© Thomson Reuters Projects News 2019