By John Lee.
A delegation from Iraq, led by Deputy Prime Minister and Minister of Planning Mohammed Tameem, met with a delegation from the United States government, headed by Secretary of State Antony J. Blinken, in the High-Level Coordination Committee (HCC) meeting yesterday, April 15th.
The meeting was held in accordance with the 2008 Strategic Framework Agreement (SFA) between Iraq and the United States.
According to a statement issued after the meeting, the U.S. International Development Finance Corporation (DFC), in conjunction with the United States Agency for International Development (USAID), will provide a $50 million loan to the National Bank of Iraq in support of private sector development in Iraq.
This loan, facilitated by USAID, aims to extend credit to small and medium-sized enterprises (SMEs), with a focus on businesses without previous banking relationships and those led by women.
[CORRECTION: A previous version of this article stated that agreement was with the International Finance Corporation (IFC). Iraq Business News understands that this should have stated "U.S. International Development Finance Corporation (DFC)". The article has been amended accordingly.]
(Source: PMO)
The PM Al-Sudani is not focusing on improving his country through changes in policy, planning, economic strategy and development as he lacks proficiency and experience to carry on such a task.
The private sector in Iraq has been lacking for more than two decades, and there is no correct government vision for its development.
If Iraq wants to build its economy and provide job opportunities for its people, it must seriously implement the Strategic Framework Agreement (SFA).