(MENAFN) Iraq said it plans to launch a state-funded investment bank to finance infrastructure projects, according to Khaleej Times
Sami Al Araji, chairman of the National Investment Commission, said: "We need this (state-funded investment bank) to push forward the economy. Our existing commercial banks do not have the skills or experience.
Al Araji added that the new Investment and Development Bank of Iraq will receive 1 percent of annual state budget allocations over seven years after approval
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