Live Update 
From the Liveblog of
Wednesday, June 29, 2016
From the Liveblog of
Wednesday, June 29, 2016
Iraq inks deal for $2.7 billion US military loan
Add ToI as a Preferred Source on GoogleIraq secures a deal Wednesday for a $2.7 billion US loan to finance the buying of ammunition and maintenance of tanks and fighters used in the fight against the Islamic State group.
A US embassy statement says the declaration of intent was signed by Ambassador Stuart Jones and Iraqi Finance Minister Hoshyar Zebari.
The US Foreign Military Finance credit facility will help Iraq “defer payment for the purchase of ammunition and maintenance of its F-16s (jets) and M1A1 (Abrams) tanks,” Jones says.
The deal gives Iraq eight and a half years to pay for its military purchases, in what the statement says was part of Washington’s efforts to ensure Baghdad’s economic difficulties do not affect the fight against IS.
— AFP
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