International Finance: Economic reform in Iraq is witnessing an increasing pace and we have invested about two billion dollars

  • 18-06-2024, 19:27
  • +A -A

    The representative of the International Finance Corporation in Iraq, Bilal Zaghir, confirmed today, Tuesday, that the institution’s investment in Iraq has reached nearly two billion dollars since 2005, while indicating that economic reform is witnessing an increasing pace.
    Zaghir told the Iraqi News Agency (INA): that “The work of the International Finance Corporation dates back to the year 2005, and over the years we have been able to invest approximately two billion dollars in a wide range of sectors,” noting that “our work in Iraq will extend our belief in the future prospects of Iraq and the acceleration of the pace of reform.” "This will be reflected positively in creating other investment opportunities in all sectors, whether industrial, infrastructure, or in the financial and banking sectors."
    He added, “The International Finance Corporation is the arm of the World Bank that is concerned with developing the private sector by providing the necessary financing for private sector projects in addition to providing advisory services. Therefore, the framework of the institution’s work expands to include a wide range of financial services to all companies operating in Iraq in addition to providing consulting services".
    Zaghir continued, “The IFC’s vision relates to a group of sectors whose importance we believe and whose importance we share with the Iraqi government, whether investing in the Iraqi industrial sectors, where they are productive and an alternative to imports, and the second part relates to the financial sector, both its banking and non-banking parts, in addition to the importance of investing in infrastructure and improving the services provided for Iraqis throughout the country,” pointing out that “the main point is our work and encouraging the private sector and working with it.”