World Bank to lend $200m to Iraq for Electricity improvement.

According to the agreement, which was signed by Finance Minister Fuad Hussein and Yara Salim, a representative to the World Bank, Iraq will focus on improving the power supply in the southern provinces where people have been protesting against the lack of basic public services, including electricity and other related demands.

Hussein noted that the loans from the World Bank to Iraq were allocated into certain projects related to developing the economic infrastructure.

‘There will be attempts to address the problem of power supply in Basra province and surrounding areas in collaboration with the World Bank,’ the Iraqi minister added.

Iraq is expected to implement the projects within five years and to pay back the debts in ten to 15 years.