The Iraqi cupboard has accredited a mechanism to cope with the top notch dues of agencies making an investment in the electricity zone.
The decision authorises the change financial institution of Iraq (TBI) to take the essential steps to purchase money owed owed to funding organizations in opposition to amounts due from the Ministry of electricity. The nation Oil advertising and marketing agency (SOMO) will decide to making monthly payments from the proceeds of gasoline oil income to TBI, permitting the financial institution to carrier the purchased debt.
moreover, the cabinet required the Ministry of power to prioritise payments to agencies making an investment in strength vegetation. The order of priority consists of:
reimbursement of loans from worldwide financial institutions.
price of running and upkeep prices.
reimbursement of loans to nearby banks, if applicable.
payment of dues to investor groups with out outside money owed.
