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12/07/2011 13:41
Baghdad, July 12 (AKnews) – The assets of Iraqi backs are not large enough to make their use by international companies realistic, resulting in major investment projects being impeded, the Iraqi Electricity Ministry said today.
Spokesman Musab al-Mudarres told AKnews: “Iraqi banks cannot provide financial guarantees to foreign companies because their capital is below the guarantees expected by corporations."
"The Ministry of Electricity has submitted a request to the Council of Ministers about the need to facilitate banking transactions and involving well-known foreign banks in the guarantees."
By Jaafar al-Wannan
RN\PS
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Baghdad, July 12 (AKnews) – The assets of Iraqi backs are not large enough to make their use by international companies realistic, resulting in major investment projects being impeded, the Iraqi Electricity Ministry said today.
Spokesman Musab al-Mudarres told AKnews: “Iraqi banks cannot provide financial guarantees to foreign companies because their capital is below the guarantees expected by corporations."
"The Ministry of Electricity has submitted a request to the Council of Ministers about the need to facilitate banking transactions and involving well-known foreign banks in the guarantees."
By Jaafar al-Wannan
RN\PS
[You must be registered and logged in to see this link.]
