Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
Belgium increases its support to stabilization in Iraq with new EUR 1.5 million contribution The Government of Belgium has contributed an additional EUR 1.5 million (approximately US$ 1.49 million) to the Funding Facility for Stabilization. The critical funding will support stabilization efforts implemented by the United Nations Development Programme (UNDP) across Iraq's five governorates: Anbar, […]
By John Lee. The International Finance Corporation (IFC), part of the World Bank Group, has proposed a corporate loan of up to USD65 million to Al Douh Cement, one of the leading producers of cement in Iraq, to finance the company's planned expansion of its production capacity. Al Douh was established in 2008 to meet […]
The Head of the KRG's Board of Investment, Mohammad Shokri, has laid the groundwork for the provision of 892 residential units in Zakho administration with a budget of 48.8 billion dinars [$33.4 million]. The project comes after 2,073 people with limited income filled online applications to be eligible for the residential units in Zakho. This […]
Italy renews its commitment to stabilization with a new EUR 2 million contribution The Ministry of Foreign Affairs and International Cooperation of Italy, through the Italian Agency for Development Cooperation (AICS), has renewed its commitment to stabilizing Iraq with an additional EUR 2 million (approximately US$1.9 million) contribution. The generous contribution will be channeled through […]
Korea reaffirms its commitment to stabilization in Iraq with a new contribution The Republic of Korea has made a new contribution of US$450,000 to the United Nations Development Programme (UNDP) Iraq's Funding Facility for Stabilization (FFS), which supports stabilization, durable solutions, and the safe return of internally displaced Iraqis in the five governorates liberated from […]
By Basima Abdulrahman, Rania Baker and Ahmed Tabaqchali, for the Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS). The opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Economic Review: KRG's Financial Conundrum | Iraq's Real Estate Boom […]
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. How can Iraq help 3.5 million citizens living in urban slums? The government and parliament in Iraq are working to address the slum housing crisis, facing obstacles and wide […]
By John Lee. The Iraqi Civil Aviation Authority (ICAA) has announced the opening of Kirkuk International Airport. Transport Minister Nasser Al-Shibli inaugurated the new facility on Sunday. The authority indicated that the airport has completed all international standards and requirements to be ready to receive all flights. (Sources: ICAA, Ministry of Transport)
By John Lee. The World Bank's International Center for Settlement of Investment Disputes (ICSID) has reportedly dismissed a German investor's claim arising out of the Iraqi Government's alleged takeover of a cement factory in Kirkuk. In the case (ICSID Case No. ARB/20/21), AHG Industry GmbH & Co. KG was said to be claiming $878 million […]
By John Lee. South Korea's Hanwha Engineering & Construction has reportedly abandoned construction at the giant Bismayah New City housing project near Baghdad. According to Korea Economic Daily, the decision was made having failed to receive payments for years from the Iraqi government. It says the company expects losses of up to $581 million if […]
By John Lee. Iraqi Prime Minister Mustafa Al-Kadhimi and the Prime Minister of Jordan, Bisher Al-Khasawneh, have laid the foundation stone for the Iraqi-Jordanian electricity interconnector. Al-Kadhimi said the project will help secure the exchange of energy between the two countries, and reflects the policy of openness and cooperation adopted by this government. On the […]
By John Lee. A new startup has reportedly announced a new product that digitises real estate maps. According to a report from Iraq Tech, Optionline's Naxsha is cloud-based real-estate software that "offers agencies a customisable platform to build and use data to improve their sales strategy." The app currently only contains maps of Erbil city, […]
