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The Prime Minister sponsors an international agreement to finance the private sector
The first 06/06/2024
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Prime Minister Muhammad Shia Al-Sudani opened yesterday, Wednesday, the work of the second specialized workshop to support the private industrial construction sector. During the workshop, he sponsored the signing of a cooperation agreement between the Trade Bank of Iraq (TBI) and the German Export Credit Corporation, to finance private sector development projects within the sovereign guarantees initiative. Governmental.
A statement from the Prime Minister’s Media Office stated, “During the opening of the workshop, under the patronage and presence of the Prime Minister, a cooperation agreement was signed between the Trade Bank of Iraq (TBI) and the German Export Credit Corporation, to finance private sector development projects, within the government’s sovereign guarantees initiative, and a letter of authorization was also signed.” To finance the project to establish a plate glass factory in Najaf Governorate in the amount of 110 million euros, between the Iraqi Trade Bank and the German banks (Commars Bank) and (Aka Bank).
Al-Sudani pointed to "government support for the industrial sector, and removing the problems and obstacles that obstruct this vital sector, which represents a fundamental driver of the economy, and helps address the problem of unemployment by providing job opportunities."
He added, "Support for the Ministry of Industry and industrialists and all the decisions required by the Council of Ministers are on their way to implementation," stressing that "there are 8 projects that are on their way to implementation in light of the provision of sovereign guarantees to support the private sector."
He continued, "Sovereign guarantees provided financial support from German, Italian, and Japanese financial institutions, amounting to 200 million dollars, and there are understandings with the French side amounting to 1 billion euros, for the construction of industrial projects within the private sector."
The Prime Minister stressed, "The housing and construction sector in general is progressing, and this requires construction materials extensively," pointing out that "the available factories for various construction materials only cover a quarter of the need according to the projects that will be initiated, especially residential city projects."
In appreciation of the Prime Minister’s position in support of industrialists, which resulted in a package of decisions taken by the Council of Ministers (yesterday, Tuesday), the Federation of Industries decided that June 4 would be National Industry Day.
Prime Minister Muhammad Shiaa Al-Sudani also chaired a special meeting to follow up on the development and rehabilitation of Baghdad International Airport. On the other hand, in a phone call yesterday, Wednesday, the Prime Minister discussed with Syrian President Bashar al-Assad bilateral relations and the importance of raising the level of fruitful partnership between the two countries.
The call dealt with "security coordination between the two countries in confronting the dangers of the remnants of terrorism and other security challenges, and emphasizing the importance of raising the level of fruitful partnership for the service and development of the two brotherly peoples."
During the call, they discussed "the latest developments in the situation in the region, the ongoing war in Gaza and the continuation of the Zionist aggression, which requires a unified Arab, Islamic and international position, in order to end the suffering of the Palestinian people."
In addition, the Prime Minister received the Director of the Arab World Institute in Paris, the well-known Iraqi poet and diplomat Shawqi Abdel Amir, and during the meeting, Iraqi and Arab cultural affairs and areas of cooperation between Iraq and the Institute Foundation were reviewed. The Prime Minister stressed “the importance of introducing Iraqi culture and heritage in European and international circles.
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