NASDAQ Run''s

[Arctec]

What are they goingto do with 50,000 bucks?

The projects must be really small.

Iraqi cabinet endorses 50m dinar loans for small projects
Iraq Development Program - [07/04/2007]


The cabinet has agreed to offer loans up to 50m dinars for small projects through the state-owned banks," Ali Al-Dabbagh told reporters after a cabinet meeting. The interest rate is 6%, two to be paid by the loan holder while 4% will be paid by the finance ministry, he said.
The cabinet also approved the establishment of the Najaf power plant, operating with natural gas at a cost of US$55m and a design capacity of 22 MW, Al-Dabbagh added.

"A contract to that effect will soon be signed with a specialised company to start carrying out the Najaf power plant project," said the spokesman, without providing the name of the company.

Al-Dabbagh added the cabinet decided to sign WLL (wireless local loop) contracts with companies offering cellular service in the country if they already had contracts with previous governments before April 2003.

The cabinet agreed to implement the contracts concluded by the mobile phones companies and allocate them the required frequencies for operation, he said.