Electricity, drinking water and bridges for northern Iraq: KfW provides support to restore necessary infrastructure

Frankfurt am Main (ots) -

- Two loan agreements signed in Baghdad for a total of EUR 230
million
- Further contribution to regional stability

Today, KfW Development Bank signed two further loan agreements
totaling EUR 230 million on behalf of the German Federal Foreign
Office. The funds will be used to finance substations, power lines,
bridges, roads and drinking water facilities to support the
population in the provinces of Niniveh, Al-Anbar and Salah Ad-Din. In
November 2017, a first loan agreement in the amount of EUR 45 million
was signed to restore the electricity supply in Mosul and the
surrounding area. The first companies have already been commissioned
to supply the necessary transformers, power lines and substations.

Loans totaling up to EUR 500 million will be made available to
help stabilise Iraq. Once the Iraqi provinces in the north of the
country were retaken, work began to restore vital infrastructure. For
the internal refugees who are now returning to these regions after
being liberated from IS rule, not only is it important that mines are
cleared, the destroyed electricity and water supply needs to be
restored and the roads and bridges rehabilitated.

"Functioning basic services are essential for refugees to return
home - and to stabilise the region," said Dr Joachim Nagel, member of
KfW Group's Executive Board.

The first deliveries of power lines, substations and spare parts
are expected starting in September 2018, so that private households,
and also hospitals, schools and food producers can count on
construction of the destroyed infrastructure.

"The conclusion of these two agreements is an additional milestone
for an important stabilisation project headed up by the Iraqi
government. This will help advance reconstruction in the region,"
said Cyrill Nunn, the German ambassador in Baghdad.

Since 2014, Germany has been committed to the reconstruction and
political stabilisation of the country, providing more than EUR 1
billion in the form of humanitarian aid, stabilisation measures and
long-term development co-operation. Germany also advises Iraq on
political and economic reforms and military training.

More information on KfW Development Bank is available at:
http://ots.de/ntHiIG

Pressekontakt:
KfW, Palmengartenstr. 5 - 9, 60325 Frankfurt
Kommunikation (KOM), Dr. Charis Pöthig
Tel. +49 (0)69 7431 4683, Fax: +49 (0)69 7431 3266,
E-Mail: Charis.poethig@kfw.de, Internet: www.kfw.de

Original-Content von: KfW, übermittelt durch news aktuell