MOF represents Iraq in the work of the 33rd session of the European Bank Governors

Baghdad - INA

Minister of Finance, Taif Sami, participated today, Thursday, in the work of the thirty-third session of the Board of Governors of the European Bank for Reconstruction and Development, which began in the Armenian capital, Yerevan, and takes place over the course of two days, 15-16 of this month of May.

The Ministry said in a statement received by the Iraqi News Agency (INA): “The Minister of Finance, Taif Sami (Governor of Iraq at the European Bank for Reconstruction and Development) and the President of the Iraqi Fund for External Development, Breen Abdel Salam, participated in the work of the thirty-third session of the Board of Governors of the European Bank to restore Reconstruction and development, which began in the Armenian capital, Yerevan, and will take place over the course of the 15th and 16th of this month of May.”.

She added, "The opening of the session witnessed a wide welcome by all members on the occasion of Iraq's first participation after announcing its accession to the Bank last year, as the Iraqi delegation's meetings focused on creating a broader space of partnership and cooperation with the European Bank, to include various sectors, especially related to supporting the private sector and strengthening its contribution to the overall national economy.”.

She continued, "On the sidelines of the meetings, a side meeting was held with Elena Aparisi, representative of the electoral district on the Board of Executive Directors, whose membership includes the Republic of Iraq, in which a number of issues related to Iraq's contribution to the European Bank were discussed.".

The ministry confirmed in its statement, “A vote was taken to elect a president for the European Bank between 2025 and 2027 and to recommend Slovenia as president and New Zealand and Turkey as vice presidents, in addition to discussing draft membership decisions for Kenya and Nigeria in the European Bank, as well as approving the financial statements and auditors’ report for the year 2023 and the Board of Directors’ Report to the Board of Governors of the 2023 Special Funds Financial Statements.”.

She stated, “The bank’s meetings are discussing a number of important issues related to its work, including increasing paid-up capital to confront unexpected disasters and expanding the geographical scope of the bank’s activity to include Sahara Africa and Iraq, so that it becomes one of the countries that benefits from the European Bank’s operations.”.

She stressed, "The importance of Iraq's participation in this meeting is embodied in its being the first after its accession and completion of the necessary regulatory, legal and legislative procedures.".
 
The Ministry of Finance stated in its statement, “The agenda will discuss a wide range of topics, such as the importance of regional connectivity and value chains, financial technology, artificial intelligence, cybersecurity, energy security, renewable energy, challenges resulting from the war in Ukraine, digitization in emerging markets, and financial inclusion.”