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June 18, 2023
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His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received today, Sunday, the Assistant Secretary-General of the United Nations and the Regional Director for the Arab Countries of the United Nations Development Program (UNDP), Mr. Abdullah Al-Dardari and his accompanying delegation.
The two sides discussed strengthening bilateral cooperation and discussing the possibility of creating institutional cooperation in the field of development [You must be registered and logged in to see this link.] and the success of the development programs that Iraq wishes to implement.
His Excellency said during the meeting that the contribution of the Central Bank of Iraq in diversifying the economy and empowering the private sector through an unconventional monetary policy was characterized by direct [You must be registered and logged in to see this link.] and stimulation of the economy, indicating that this bank has adopted many initiatives to [You must be registered and logged in to see this link.] small, medium and large projects, as well as the renewable energy initiative.
He pointed out that the Central Bank of Iraq works with sufficient flexibility that qualifies it to build a distinguished economic model that helps the Iraqi economy by providing various job opportunities in the private sector, announcing the launch of strategies to enhance financial depth, including the establishment of Riyada Bank, a loan guarantee company, and a financial center for business. Setting priorities for financing small and medium enterprises as the basic nucleus for economic growth and employment is among the initiatives adopted by this bank.
In turn, the head of the delegation, Mr. Abdullah Al-Dardari, reviewed the incentives for the international [You must be registered and logged in to see this link.] for Iraq, stressing that the United Nations Development Program seeks to provide [You must be registered and logged in to see this link.] to the Iraqi banking sector to create more job opportunities in the private sector.
The head of the delegation expressed the desire of the United Nations to create institutional partnership and cooperation in technical fields, stressing his interest in the initiatives of the Central Bank of Iraq in renewable energy and financing small and micro development projects, as well as the possibility of working to reduce risks in the field of loan [You must be registered and logged in to see this link.] through a conceptual package that will be document For a promising development program between the Central Bank of Iraq and the United Nations Development Program (UNDP).
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