Page 11 - Al-Rashed Newsletter January 2020

IRAQ MUSINGS
IRAQ NEWS

Cabinet Awards $26.5m Contracts in Samarra
The Iraqi Cabinet has approved a recommendation from Ministerial Council on
Social Services to award the contract for phase II of the Samarra Sewerage
Project.The contract has been awarded to two companies at a total cost of
31,530,406,000 dinars ($26.5 million).

Oil Ministry Finalises Export Figures for December
Iraq's Ministry of Oil has announced final oil exports for November of 106,265,346
barrels, giving an average for the month of 3.428 million barrels per day (bpd), down
from the 3.500 million bpd exported in November .These exports from the oilfields in
central and southern Iraq amounted to 103,090,550 barrels, while exports from
Kirkuk amounted to 2,827,050 barrels. Exports to Jordan were 347,746
barrels.Revenues for the month were $6.698 billion at an average price of $63.027
per barrel.

Govt Finance Schemes to Support SMEs, Innovation
To support small and medium private-sector projects, the Iraqi government, through
the Central Bank of Iraq (CBI) and with the participation of a number of private and
state-owned banks, has made available several types of loans.The loans are
available to all Iraqis.According to a statement from the Iraqi Government, one of
the more innovative finance schemes is the Central Bank’s “1 Trillion Dinars
Initiative” which is dedicated to supporting small and medium enterprises, as part of
the wider Iraqi government strategy to boost economic growth, create new job
opportunities, and the production of local goods and services.

"“IMPERFECTION IS

BEAUTY, MADNESS IS
GENIUS AND IT'S

BETTER TO BE
ABSOLUTELY

RIDICULOUS THAN
ABSOLUTELY BORING.”

-MARILYN MONROE

Source: menafn.com, iraq-businessnews.com