Ukraine Set to Receive $1.9 Billion Investment Boost from World Bank
The International Finance Corporation (IFC), a financial division of the World Bank, intends to invest 1.9 billion USD in projects in Ukraine over the next 18 months
Iraq will be receiving a USD 350 M bank loan in order to deal with the most urgent damages done to cities controlled by Islamic State.
The agreement has been signed between the Iraqi government and the World Bank.
This is the first international aid package that will help revive the affected regions. The majority of the funds will be utilized to recover road infrastructure, bridges, electricity, water supply as well as sewer systems.
In addition, the US, Japan, EU as well as separate European countries have also pledged support for Iraq. The country has been facing a massive budget deficit of USD 20 B.
The budget in Iraq suffered a severe decrease of income from petrol production and sales because of the price decrease on international markets. The situation was further aggravated after the huge expenses on account of the ISIS conflict.
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Amid escalating tensions on its borders and a significant increase in the Ministry of National Defense budget, Romania is discreetly preparing for the reintroduction of compulsory military service
Defense Minister Sergei Shoigu announced today that Russia will escalate strikes on Ukrainian storage bases housing weapons supplied by Western nations
In a move aimed at bolstering its military forces amid the ongoing war with Russia, Ukraine has announced the suspension of consular services for its male citizens eligible for military service and residing abroad
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