Iraq: World Bank Lends Iraq $1.2 Billion to Face Oil, Security Shocks

Dec 18, 2015 | Sylvia Westall, Reuters
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The World Bank said on Thursday it would lend Iraq $1.2 billion in emergency support to help it deal with the economic effects of its fight against Islamic State militants and low oil prices. The budget support loan will be disbursed in a single tranche and should be available to Iraq before the end of the year, said Ferid Belhaj, a senior World Bank regional official who oversees Iraq.