By John Lee.
Iraq's Prime Minister Ali al-Zaidi has met with World Bank Group President Ajay Banga in Washington. The delegation accompanying Banga included Makhtar Diop, President of the International Finance Corporation (IFC), and senior World Bank officials.
According to the Prime Minister's Office, al-Zaidi highlighted the government's focus on banking sector reform and programme budgeting, and said Iraq aims to increase oil production in parallel with developing non-oil sectors. He also outlined plans for a development fund to finance investment projects across all governorates.
Banga expressed the World Bank's readiness to provide technical and advisory support in the areas of programme budgeting and banking sector restructuring. He also proposed studying the creation of a large Iraqi banking holding company through the merger of several state-owned banks, with the aim of improving the efficiency of the financial sector.
(Source: Prime Minister's Office)
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