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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The European Bank undertakes the development of infrastructure in Iraq

    Rocky
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    The European Bank undertakes the development of infrastructure in Iraq Empty The European Bank undertakes the development of infrastructure in Iraq

    Post by Rocky Sat 18 Nov 2023, 7:23 am

    [size=38]The European Bank undertakes the development of infrastructure in Iraq[/size]





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    November 18, 2023[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala Al-Hadath: The financial advisor to the Prime Minister, Mazhar Muhammad Salih, outlined the importance of Iraq’s accession to the European Bank for Reconstruction and Development, while stressing that the accession was the result of sober and constructive consultations practiced by economic diplomacy.
    Saleh said: “Iraq’s accession to the European Bank for Reconstruction and Development has been the 74th member since the Board of Governors approved its accession in 2020,” pointing out that “accession came as a result of sober and constructive consultations carried out by economic diplomacy over the years to reach the accession stage.” Full membership of this European multilateral financing institution.”
    He added, "This will enable our country to implement our priorities in sustainable economic development, in which the European Bank is responsible for the reconstruction and improvement of important aspects of Iraq's infrastructure."
    He stated that “the European Bank for Reconstruction and Development (EBRD) is a multilateral development bank that uses investment as a tool to help build market economies. It was founded in 1991 and initially devoted its work to the Eastern European transitional countries that transitioned from centralized economies to market economies.” The aforementioned bank financed 5,035 projects from 1991 until 2020, with a total value of business volume amounting to 120 billion euros.”
    He pointed out that “the European Bank works specifically for reconstruction and development in 38 countries in the southern and eastern Mediterranean, central and eastern Europe, and Central Asia. It also finances large and small projects in a variety of sectors, including public works, agribusiness, and natural resources.” Infrastructure, such as roads, water and sanitation projects, and the digital and technological sector.”
    He continued: “Thus, the European Bank for Reconstruction and Development serves the interests of all its shareholders - whose total number today exceeds more than 74 countries from 5 continents, in addition to the European Union countries themselves.”
    He stressed that “Iraq’s membership in the European Bank for Reconstruction and Development will represent a true European investment partnership in launching important strategic projects in our country, such as the large Iraq development project (Development Road), which is a project that will link the interests of Iraq and the global south with Europe on the one hand, and the interests of Europe and Iraq with the global south on the other hand.” second".
    Yesterday, Thursday, the Ministry of Foreign Affairs announced that Iraq had joined the European Bank for Reconstruction and Development.
    Ministry spokesman Ahmed Al-Sahhaf said in a statement, “Iraq has joined the European Bank for Reconstruction and Development (EBRD), as it has completed the accession procedures and is now the 74th member of the bank.”
    He pointed out that “Iraq had previously submitted an application to join the bank in April 2018, and the Board of Governors approved its membership in October 2020.”
    He continued, "The process of becoming a contributing member has now been completed, and as a shareholder, Iraq can apply to benefit from the financial and political support provided by the European Bank for Reconstruction and Development."
    The President of the European Bank for Reconstruction and Development, Odile Renaud-Basso, said, according to the statement: “I am pleased to welcome Iraq as a member of the Bank. We are fully committed to engaging with the country, and when the time comes, we look forward to starting work in Iraq, and applying our expertise to develop its economy.”
    The statement concluded, “This achievement was the culmination of the efforts of the Embassy of the Republic of Iraq in London and its continuous efforts with the Bank’s management in London, and the possibility of the Bank’s contribution to infrastructure projects in Iraq, including the Development Road Project.”


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