Home
On her first visit to Iraq, the Vice President of the International Finance Corporation seeks to support the role of the private sector
March 3, 2024 Last updated: March 3, 2024
Independent/- Hala Sheikh Rouhu, Vice President of the International Finance Corporation for the Middle East, Central Asia, Turkey, Afghanistan and Pakistan, is making her first visit to Iraq this week to support the role of the private sector in achieving sustainable development.
During her three-day mission, Ms. Sheikhrouhu will meet Prime Minister Mohamed Shiaa Al-Sudani and also participate in high-level discussions with government officials and representatives. Meetings will also be held with representatives of the private sector and women entrepreneurs.
This visit confirms the International Finance Corporation's commitment to supporting sustainable economic development in Iraq and its continuation of presenting its initiatives aimed at promoting private sector growth and economic diversification.
The International Finance Corporation has been and continues to be a partner of Iraq in its development journey, having invested and mobilized more than $1.9 billion since 2005 to support the private sector in the country.
Projects that IFC has supported over the past years include:
In the field of industry promotion: The International Finance Corporation invested up to $130 million in the Iraqi Doha Cement Industries Company with the aim of promoting energy-saving and climate-friendly technologies, and enhancing the sustainable production of cement clinker, thus creating 2,700 new job opportunities.
In the field of supporting food security: The International Finance Corporation led a financing package worth $112.5 million for “Turki Agro” company to develop a modern agricultural industrial complex in the port of Umm Qasr in Iraq, with the aim of enhancing production.
The sweetener consists of soybean flour and soybean oil, which is estimated to contribute to making the production of Sama Al-Manar Company, a subsidiary of Turki Agro Company, in Iraq one of the largest non-oil commodity exports.
In the area of promoting trade: IFC led a groundbreaking financing package worth $125 million to establish a multi-purpose shipping terminal at Umm Qasr Port in Basra. The project is expected to boost trade,
It improves connectivity with global markets and stimulates economic growth.
Modernization of Baghdad International Airport: The International Finance Corporation signed an agreement to advise the government on structuring a public-private partnership project to rehabilitate, expand, finance, operate and maintain Baghdad International Airport and make its facilities, safety and services compatible with international standards, which will be the first public-private partnership project at an airport in Iraq.
It is noteworthy that the International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution whose work focuses on the private sector in emerging market countries.
The Foundation operates in more than 100 countries around the world, using its capital, expertise and influence to create markets and create opportunities in developing countries.
[You must be registered and logged in to see this link.]
March 3, 2024 Last updated: March 3, 2024
Independent/- Hala Sheikh Rouhu, Vice President of the International Finance Corporation for the Middle East, Central Asia, Turkey, Afghanistan and Pakistan, is making her first visit to Iraq this week to support the role of the private sector in achieving sustainable development.
During her three-day mission, Ms. Sheikhrouhu will meet Prime Minister Mohamed Shiaa Al-Sudani and also participate in high-level discussions with government officials and representatives. Meetings will also be held with representatives of the private sector and women entrepreneurs.
This visit confirms the International Finance Corporation's commitment to supporting sustainable economic development in Iraq and its continuation of presenting its initiatives aimed at promoting private sector growth and economic diversification.
The International Finance Corporation has been and continues to be a partner of Iraq in its development journey, having invested and mobilized more than $1.9 billion since 2005 to support the private sector in the country.
Projects that IFC has supported over the past years include:
In the field of industry promotion: The International Finance Corporation invested up to $130 million in the Iraqi Doha Cement Industries Company with the aim of promoting energy-saving and climate-friendly technologies, and enhancing the sustainable production of cement clinker, thus creating 2,700 new job opportunities.
In the field of supporting food security: The International Finance Corporation led a financing package worth $112.5 million for “Turki Agro” company to develop a modern agricultural industrial complex in the port of Umm Qasr in Iraq, with the aim of enhancing production.
The sweetener consists of soybean flour and soybean oil, which is estimated to contribute to making the production of Sama Al-Manar Company, a subsidiary of Turki Agro Company, in Iraq one of the largest non-oil commodity exports.
In the area of promoting trade: IFC led a groundbreaking financing package worth $125 million to establish a multi-purpose shipping terminal at Umm Qasr Port in Basra. The project is expected to boost trade,
It improves connectivity with global markets and stimulates economic growth.
Modernization of Baghdad International Airport: The International Finance Corporation signed an agreement to advise the government on structuring a public-private partnership project to rehabilitate, expand, finance, operate and maintain Baghdad International Airport and make its facilities, safety and services compatible with international standards, which will be the first public-private partnership project at an airport in Iraq.
It is noteworthy that the International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution whose work focuses on the private sector in emerging market countries.
The Foundation operates in more than 100 countries around the world, using its capital, expertise and influence to create markets and create opportunities in developing countries.
[You must be registered and logged in to see this link.]
