France to loan 430 m euros to Iraq: ministry

France is to grant a 430-million euro loan to Iraq whose economy has been weakened by low oil prices and its fight against jihadists, a French foreign ministry official said yesterday.

Foreign Minister Jean-Yves Le Drian made the announcement during talks in Baghdad with Iraq's Prime Minister Haider al-Abadi and said the 430 million euros ($512-million) would be released before the end of 2017, the official told AFP.

"France was present from the beginning of the battles against Daesh (Islamic State group) and will be present as well during time of peace," said Le Drian, who was accompanied by Defence Minister Florence Parly.