Al-Sudani directs forming a joint committee aimed at achieving sustainable development

INA-  BAGHDAD


 
Media Office of the Prime Minister said in a statement obtained by the Iraqi News Agency INA that As part of the government’s efforts to support industrial projects, achieve sustainable development, strengthen the national economy, and increase job opportunities, Prime Minister Mohammed S. Al-Sudani has issued a directive to form a joint committee comprised of relevant entities. This committee is tasked with establishing mechanisms for lending to industrial projects and setting regulations to determine the depreciation and precautionary measures for the guarantees provided for these loans.
 
The statement read “On December 9, 2024, the Council of Ministers approved the committee’s recommendations. The new guidelines include the implementation of the Prime Minister’s directives to offer loans with reduced interest rates and flexible conditions. This aims to facilitate the establishment of new industrial projects in collaboration with major state-owned banks, ensuring financial support for investors in the industrial sector.”
 
It further said that “The Iraqi government seeks to enable the private sector to play a prominent and influential role in supporting industrial projects by increasing its investments in this area. This includes establishing and operating factories, as well as developing innovative ideas that meet local market demands while attracting expertise and modern technologies from specialized global companies.”
 
“Practically and effectively, the government aims to advance industrial projects that prioritize environmental sustainability and community support through corporate social responsibility programs adhered to by companies and factories,” the statement also said.
 
The statement concluded that the Iraqi government reiterates its continuous efforts to strengthen cooperation with the private sector, leading to a comprehensive industrial revival that benefits both sides and the national economy as a whole.