Iraqi Prime Minister, IFC discuss economic collaboration, development initiatives

Iraqi Prime Minister Mohammed Shia Al-Sudani engaged in discussions regarding potential collaboration between Iraq and the International Finance Corporation (IFC), a constituent of the World Bank, during a meeting held on Tuesday.

Al-Sudani convened with a delegation from the IFC, led by Hala Sheikh Ruhu, Vice President for Middle East Affairs. Emphasizing the Iraqi government’s commitment to ongoing economic reforms and initiatives aimed at enhancing the investment environment, the Prime Minister underscored the encouragement of non-oil industries, bolstering the role of the private sector, and implementing strategies to augment the country’s Gross Domestic Product (GDP), as stated in a release from the Prime Minister’s Office (PMO).

During the dialogue, Al-Sudani advocated for the establishment of a specialized training center in Iraq, focusing on enhancing banking operations, formulating project economic models, and supporting the private sector within Iraq’s building materials industry. This proposal aligns with the burgeoning demand generated by burgeoning new city projects.

Furthermore, the Prime Minister emphasized the significance of backing projects associated with the Development Road initiative and outlined the necessity of finalizing plans designed for the overhaul of Baghdad International Airport.

Ruhu expressed the IFC’s keenness to collaborate with Iraq across various sectors, commending the Iraqi government’s commitment to expanding reforms and adopting measures aimed at curbing carbon emissions.

According to the IFC representative, the organization aims to facilitate sustainable development, expedite the advancement of Iraq’s diverse economic sectors, and complete the renovation and expansion projects at Baghdad International Airport.