Erbil signs contract to receive 200bn dinars-loan through Rasheed Bank

Shafaq News/ The Ministry of Finance and Economy in the Kurdistan Region government announced on Monday the signing of a contract to receive 200 billion dinars as a loan through the Rasheed Bank.

The ministry's statement highlighted the Finance and Economy Minister Awat Janab Nouri's signing of the contract in Baghdad.

The statement elaborated that in coordination with Kurdistan Region representatives in Baghdad, the ministry finalized all procedures and contracts to receive 500 billion dinars through both Rafidain Bank and the Iraqi Commercial Bank.

Emphasizing their anticipation, the ministry stated it is "awaiting the arrival of the amounts to the ministry's account at the Iraqi Central Bank branch as soon as possible."

Previously, the Federal Ministry of Finance had announced the launch of a 700 billion dinar loan to fund the salaries of Kurdistan Region employees following directives from the Prime Minister, Mohammed Shia al-Sudani.