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France Plans $513 Million Iraq Loan, Foreign Ministry Tells AFP

NINEWA PROVINCE, IRAQ- OCTOBER 30: Iraqi petroleum workers turn a valve to release gas at the Anzalla oil fields October 30, 2003 in the Ninewa Province of Northern Iraq. As the Iraqi's try to increase oil production at the Anzalla fields they must cope with sabotage, looting and other problems which are keeping them from reaching their maximum capacity of 17,000 barrels a day, now they are only producing 4,500.
Photographer: Joe Raedle/Getty Images

France will give Iraq a 430 million-euro ($513 million) loan this year after the nation’s budget was crimped by the fight against Islamic State and the drop in oil prices, according to Agence France-Presse reported, citing the French government.

Foreign Minister Jean-Yves Le Drian, visiting Baghdad, told Iraqi Prime Minister Haider al-Abadi at a meeting Saturday that the money will be delivered before the end of the year, AFP said.