The Council of Ministers decides to release funds related to the Iraqi-Chinese framework agreement

  • 20-12-2021, 11:07
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    The Council of Ministers decided today, Monday, to release the funds related to the Iraq-China framework agreement.
    The General Secretariat of the Council of Ministers said in a statement received by the Iraqi News Agency (INA) that "The Council agreed to continue disbursement on ongoing projects funded by loans approved under the Federal General Budget Law for the fiscal year / 2021, and previous years under the signed agreements in light of the allocations that will be included within the draft law of the federal general budget for the fiscal year / 2022," indicating that "this comes in accordance with Article (13/second) of the amended Federal Financial Management Law (6 of 2019).
    The statement also added that "The text of the resolution included that the Ministry of Finance shall release the funds related to the Chinese-Iraqi framework agreement, for which allocations are made within the Federal General Budget Law for the fiscal year / 2021, according to contracts concluded with the implementing sides, and within its obligations to disburse operational advances, based on what was reported by the Ministry of Planning ,according to the directives of the Diwaniyah Order Committee (83 of 2021) to determine national priorities and criteria for selecting projects within the framework agreement for cooperation between the Iraqi and Chinese governments.