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High-level official from the World Bank to visit Iraq to discuss private sector investment

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tlm724

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Published in: 8:43 pm, November 26, 2012 by nizar

BAGHDAD (Iba) .. The Alsidhazumikobayashi, Executive Vice President of the World Bank for the International Agency for Investment Guarantee (MB) - the arm of the World Bank Group for political risk insurance will pay an official visit to the capital of Baghdad from 12-15 November.

A statement from the World Bank received the independent press (Iba) a copy of it during this visit Ms. Kobayashi officials met in the Iraqi government and some representatives of other countries in addition to some investors and representatives of the private sector in Iraq.

As discussed Kobayashi value and importance of megabytes with representatives of some commercial banks and representatives of chambers of commerce and the Iraqi Federation of Industries. And focused on the importance the role which could be played megabytes in attracting technical partners and foreign expertise in the areas of manufacturing, banking and services sector in particular, as and pointed to the importance of the role of foreign direct investment in supporting the reconstruction process and ongoing construction in the country.

Toukalt obey megabytes guarantees that help investors to overcome the obstacles and restrictions that could impede investment, such as the degree of Sovereign Ratings Investments subsidiary, possible scenarios of political instability in addition to concerns about the legal enforceability of contracts.

This visit has confirmed the agency's commitment to supporting sustainable foreign direct investment, which will create jobs in the Middle East and North Africa. In 2011 Mega announced it had allocated $ billion U.S. dollars in favor of insurance capacity in the region to retain and encourage foreign direct investment in the region. During fiscal year 2012 Mega has issued guarantees investment worth 442 million U.S. dollars to support projects in the region.

The statement noted that in Iraq, offering mega investment guarantee for a Turkish company working with a company for Safa Petrochemical Industries and Water Bottling, which covers the station in Baghdad guarantee specialist manufactures raw materials used in the manufacture of plastic beverage bottles.

Iraq became a member of the MB in 2008, the agency support for the country to be convicted Botratejah temporary World Bank Group for Iraq, which calls for the expansion of support growth led by the private sector.

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