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World Bank invests the food industry in Iraq
5/7/2015 0:00
BAGHDAD
The International Finance Corporation, a member of the World Bank Group, has invested nearly $ 18 million to help promote dairy products manufacturer of high quality, which will lead to food security in Iraq to support and encourage the growth of non-oil sectors. The foundation said in a press statement, said that this funding will help the company to meet the growing demand for food, improve its distribution standards, in addition to providing more than 250 jobs over the next two years, indicating that the company's new factory will produce about 59 thousand tons per year of various dairy products to meet the needs of Market Alaracah.ookd George Abu Najm, general manager of Al Safi Danone - Iraq Danone branch of the Gulf Cooperation Council (GCC) and Iraq and the Levant the beneficiary that the investment in the new factory of the company in the north of Iraq is proof of the Group's commitment to Iraq as one of the most important markets in region.
In the opinion of the World Bank, he said that the investment done by the IFC, comes within the framework of a comprehensive strategy pursued by the World Bank Group aims to promote investments between the countries in the region and promote economic diversification in Iraq and improve agricultural production, as it will contribute to the development of means of production and distribution of food in transforming Iraq's economy It relies on oil to a more diversified economy. The IFC plans to promote investment services in Iraq in the coming years, it plans to invest between $ 100 and $ 130 million annually in priority sectors such as infrastructure and the financial sector. IFC is a member of the World Bank Group is interested private sector development. The Agency is working with the private sector in more than 100 Dolh.oetjdr noted that the Foundation has invested in the fiscal year 2014, more than $ 22 billion in the face of the most pressing development challenges.
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5/7/2015 0:00
BAGHDAD
The International Finance Corporation, a member of the World Bank Group, has invested nearly $ 18 million to help promote dairy products manufacturer of high quality, which will lead to food security in Iraq to support and encourage the growth of non-oil sectors. The foundation said in a press statement, said that this funding will help the company to meet the growing demand for food, improve its distribution standards, in addition to providing more than 250 jobs over the next two years, indicating that the company's new factory will produce about 59 thousand tons per year of various dairy products to meet the needs of Market Alaracah.ookd George Abu Najm, general manager of Al Safi Danone - Iraq Danone branch of the Gulf Cooperation Council (GCC) and Iraq and the Levant the beneficiary that the investment in the new factory of the company in the north of Iraq is proof of the Group's commitment to Iraq as one of the most important markets in region.
In the opinion of the World Bank, he said that the investment done by the IFC, comes within the framework of a comprehensive strategy pursued by the World Bank Group aims to promote investments between the countries in the region and promote economic diversification in Iraq and improve agricultural production, as it will contribute to the development of means of production and distribution of food in transforming Iraq's economy It relies on oil to a more diversified economy. The IFC plans to promote investment services in Iraq in the coming years, it plans to invest between $ 100 and $ 130 million annually in priority sectors such as infrastructure and the financial sector. IFC is a member of the World Bank Group is interested private sector development. The Agency is working with the private sector in more than 100 Dolh.oetjdr noted that the Foundation has invested in the fiscal year 2014, more than $ 22 billion in the face of the most pressing development challenges.
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