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[size=36]Iraq joins the European Bank for Reconstruction and Development[/size]
Economy | 05:06 - 11/16/2023
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Mawazine News - Baghdad
The Ministry of Foreign Affairs announced today, Thursday, that Iraq has joined the European Bank for Reconstruction and Development.
Ministry spokesman Ahmed Al-Sahhaf said in a statement received by Mawazine News, “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.”
The Ministry of Foreign Affairs announced today, Thursday, that Iraq has joined the European Bank for Reconstruction and Development.
Ministry spokesman Ahmed Al-Sahhaf said in a statement received by Mawazine News, “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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