VOL. XLII

No. 31

2-August-1999

IRAQ

India Extends $25Mn Loan To Iraq Outside Oil-For-Food Program

Iraq and India signed a memorandum of understanding (MOU) on29 July under which New Delhi agreed to extend a $25mn loan to Baghdad for thepurchase of 1,000 buses, 100,000 tons of wheat, medical supplies and tea. Thedeal, signed by the Iraqi Minister of Oil, Dr. 'Amir Rashid, and Indian OilMinister VK Ramamurthy, falls outside the UN-sponsored oil-for-food program.Dr. Rashid confirmed that the...