Erbil signs contract to receive a 250bn- dinars loan from Rafidain Bank
Shafaq News / The Ministry of Finance and Economy in the Kurdistan Regional Government announced on Sunday that it had signed a contract to receive 250 billion Iraqi dinars with Rafidain Bank.
According to a statement from the ministry, the ministry signed a contract on Sunday to receive 250 billion Iraqi dinars as a loan through Rafidain Bank. It was noted that they are anticipating the arrival of the amount soon into the ministry's bank account at the Erbil branch of the Central Bank of Iraq.
Earlier today, the Federal Ministry of Finance announced on Sunday that it has initiated a loan worth 700 billion Iraqi dinars to finance the salaries of employees in the Kurdistan Region.
In a statement, the ministry clarified that "it issued on Friday, December 8, 2023, documents granting the regional government a loan worth 700 billion Iraqi dinars to cover the salaries of the region's employees, secured by a deposit provided by the Federal Ministry of Finance.
"This loan will be settled from the region's dues after their commitment to the provisions of the budget law," it added.
"This action aligns with the ministry's commitment to implementing its procedures in accordance with the Federal General Budget Law No. 13 of 2023, including ensuring the financial rights of its beneficiaries and affirming the government's dedication to meeting the requirements of employees in the Kurdistan Region. Additionally, it represents the implementation of financial reforms aimed at bolstering economic growth."
