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This week: Vice President of the International Finance Corporation in Baghdad
The first 03/05/2024
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Baghdad: Al-Sabah
IFC Vice President Hala Sheikh Rouhu seeks to support the role of the private sector during her first visit to Iraq.
A statement by the institution stated that the Vice President of the International Finance Corporation for the Middle East, Central Asia, Turkey, Afghanistan and Pakistan, Hala Sheikh Ruho, will visit Iraq for the first time this week to support the role of the private sector in achieving sustainable development.
He added that during her three-day mission, she will meet Prime Minister Muhammad Shiaa Al-Sudani and will also participate in high-level discussions with government officials and representatives, as well as holding meetings with representatives of the private sector and women entrepreneurs.
The statement explained that this visit is the International Finance Corporation’s commitment to supporting sustainable economic development in Iraq and its continuation of presenting its initiatives aimed at enhancing private sector growth and economic diversification, pointing out that it was and continues to be a partner of Iraq in the development journey, having invested and mobilized more than 1.9 billion dollars. Dollars since 2005 to support the country's private sector.
He stated that among the projects that the International Finance Corporation has supported over the past years is an investment of about $130 million in the Iraqi Doha Cement Industries Company with the aim of promoting energy-saving and climate-friendly technologies, in addition to enhancing the sustainable production of cement clinker, creating 2,700 new job opportunities.
The statement pointed out that one of the Foundation’s projects is to lead a financing package worth $112.5 million for the “Turkish Agro” company to develop a modern agricultural industrial complex in the port of Umm Qasr in Iraq, with the aim of enhancing local production of soybean flour and soybean oil, which is estimated to contribute to making the production of Sama Al-Manar Company , a subsidiary of Turki Agro Company, is one of the largest non-oil commodity exports in Iraq.
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