[ltr]2023.06.18 - 22:17[/ltr]
Today, Sunday, Central Bank Governor Ali Mohsen Al-Alaq announced the launch of strategies to enhance financial depth.
The media office of the Central Bank said in a statement, which “NAS” received a copy of, (June 18, 2023), that “the Governor of the Central Bank, Ali Mohsen Al-Alaq, received, today, the Assistant Secretary-General of the United Nations and the Regional Director for the Arab Countries of the United Nations Development Program (UNDP), Abdullah Al-Dardari and his accompanying delegation," noting that "the two parties discussed strengthening bilateral cooperation and discussing the possibility of creating institutional cooperation in the field of development support and the success of development programs that Iraq wishes to implement."
Al-Alaq stressed that "the contribution of the Central Bank of Iraq to diversify the economy and empower the private sector through an unconventional monetary policy was characterized by direct support and stimulation of the economy," noting that "this bank has adopted many initiatives to support small, medium and large projects, as well as the renewable energy initiative." .
He added, "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 a Riyada Bank, a loan guarantee company, a financial center for business, and setting priorities for financing Small and medium enterprises as the basic nucleus for economic growth and employment are among the initiatives adopted by this bank.”
In turn, the head of the delegation, Abdullah Al-Dardari, reviewed the "incentives of international support for Iraq," stressing that "the United Nations Development Program seeks to provide support to the Iraqi banking sector to create greater job opportunities in the private sector."
The head of the delegation expressed "the desire of the United Nations to create partnership and institutional 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 support through a conceptual package." It will be a document for a promising development program between the Central Bank of Iraq and the United Nations Development Program (UNDP).
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