Iraq signs an agreement with an international bank to finance a power plant maintenance project


Today, Sunday, Finance Minister Taif Sami signed a loan agreement with Dole Bank to finance the electric power station repair project.
According to a ministry statement obtained by the Maalouma Agency, “Today, Finance Minister Taif Sami signed an agreement to finance the loan for the maintenance project for the Ministry of Electricity’s stations with JPM Bank and in partnership with (GE) General Electric International Inc., within the annual maintenance project (fifth phase) PUP5.”

“The signing of the agreement falls within the framework of the fourth axis of Article Two / the State General Budget Law, and is based on Cabinet Resolution No. (23588) of 2023, in which the Minister of Finance is empowered to sign agreements,” he said.

According to the statement, the Minister of Finance said that “financing the project loan will contribute effectively to increasing the efficiency of electric power generation plants in Iraq, which will reflect in the interest of raising energy productivity and thus reducing the gap between energy supply and demand and meeting the needs of citizens in all governorates.”


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