Mostly Al-Dami: China may take over projects if payment is late

Baghdad-Sharqia January 14: The Iraqi academic, Ghaleb Al-Da’ami, warned that China has the right, according to the Memorandum of Understanding concluded with the Iraqi government, to control the projects that it carries out in Iraq in the event that the Iraqi side does not pay money with loans and interest in accordance with this memo. China will pay Iraq 410 billion dollars in loans with interest up to 195 billion dollars, which is a tremendous amount that Iraq will not be able to repay even if the price of oil rises, recalling previous experiences of China in Kenya, Sri Lanka and Uganda that ended with the Chinese controlling the facilities that they implemented in those countries to count their ability to pay debts And benefits  The Iraqi academic Ghaleb Al-Daami revealed that the Chinese-Iraqi Memorandum of Understanding allowed the Chinese to contract with companies, both foreign and local, citing one of the local companies that came to one of the provinces to implement a project within the agreement to pave a 12 km long street with a value of $ 500 million, while the international prices for paving one kilometer Do not exceed a million dollars


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