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By John Lee.

According to Jordan's state-run Petra news agency, financial and banking experts and representatives of international financial institutions convened on the sidelines of the 2026 Franchise and Trade Agencies Exhibition in Amman to discuss expanding economic cooperation between Jordan and Iraq.

The dialogue session, titled "Financing Mechanisms, Banking Facilities and the Role of International Financial Institutions in Supporting Trade and Investment Exchange Between Iraq and Jordan," focused on strengthening private-sector financing and bilateral investment opportunities.

Marcel Rashid, representative of the International Finance Corporation (IFC) mission in Jordan, described Jordan and Iraq as part of an interconnected economic system and said the IFC supports private-sector development and strategic project financing in both countries. He noted that the IFC has invested billions of dollars in Iraq in recent years across private-sector initiatives, infrastructure, and financial services, and that its role includes technical and advisory support alongside direct financing.

Katarina Hansen, Director of the European Bank for Reconstruction and Development (EBRD) office in Iraq, described Iraq as one of the region's most promising markets, citing opportunities in transportation, logistics, energy, electricity, and telecommunications. She said the EBRD is working alongside the World Bank Group and other international partners to support Iraq's development priorities.

Nasser Abu Zahra, Deputy Chief Executive Officer and Head of Corporate and Banking at Housing Bank, said amendments by the Central Bank of Jordan had enabled Jordanian banks to finance projects in Iraq, including in the energy, industrial, services, and technology sectors, using instruments such as letters of credit.

(Source: Petra)

By John Lee.

Iraqi Parliament Speaker al-Halbousi has concluded an official visit to Jordan, during which discussions focused on strengthening bilateral cooperation in energy, trade, investment and transport.

Al-Halbousi met with King Abdullah II, Jordanian House of Representatives Speaker Mazen al-Qadi, Prime Minister Dr Jafar Hassan, and Senate President Faisal al-Fayez.

Talks with al-Fayez at the Jordanian Senate covered economic and parliamentary cooperation, with al-Halbousi stressing the importance of pressing ahead with the Basra-Aqaba Oil Pipeline (BAOP) and diversifying Iraq's crude export routes, as well as utilising Jordan's surplus electricity capacity.

Al-Fayez called for the activation of bilateral agreements, increased joint investment, and the implementation of strategic connectivity projects, particularly the oil pipeline and electricity interconnection scheme.

(Source: Iraqi Parliament)

By John Lee.

A number of new industrial projects have been established at the Dhi Qar Industrial City, according to the Industrial Cities Authority, which operates under the Ministry of Industry and Minerals.

The Industrial Cities Authority director-general, engineer Anas Hashim, said the industrial city covers an area of 2,000 dunams and is designated for light and medium industries. It comprises 105 serviced industrial plots equipped with water, sewerage, electricity and telecommunications networks, as well as administrative and service buildings, a water treatment plant, maintenance workshops, and a power station that has entered the trial operation phase.

Hashim added that all serviced plots have been leased to industrialists in accordance with applicable regulations, resulting in the establishment of several industrial projects, including:

• An industrial oil recycling factory
• An industrial gases factory
• Tyre and paper waste recycling factories
• Food and pharmaceutical manufacturing facilities

Unserviced plots have also been allocated to industrialists wishing to develop them independently, bringing the total number of leased industrial plots to 278.

Industrialists benefit from a two-year rent exemption as an incentive to attract investment to the city. The authority said it intends to continue developing industrial cities across various governorates to organise and localise industries, create employment opportunities, and attract capital.

(Source: Ministry of Industry and Minerals)

By John Lee.

A wide-scale campaign to remove illegal connections from the national electricity grid was launched on Saturday in Baghdad and across all governorates, according to the Iraqi Ministry of Electricity.

The operation was conducted under the field supervision of Khalid Ghazai Attiya, Deputy Minister for Transmission and Distribution Affairs, with the participation of the directors general of the Legal Directorate and the Economic Directorate, along with the head of the Citizens' Affairs Department, the director of the Karkh Electricity Distribution Branch, and engineering and technical staff.

The campaign covered residential and commercial areas within the Al-Hurriya and Central Karkh electricity sectors, as part of a structured and escalating work plan aimed at progressively addressing violations and protecting grid stability.

The Deputy Minister stated that the ministry had begun implementing government directives on the removal of illegal connections, which are responsible for energy losses of approximately 55 percent of total power supplied to consumers, with a resulting negative impact on supply hours.

The ministry added that the continuation of such violations leads to unplanned load increases and depletion of generated capacity, compounding operational challenges, particularly given the exceptional circumstances currently facing the country.

(Source: Ministry of Electricity)

By John Lee.

Four senior officials at the Diyala Electricity Distribution Directorate have been arrested and referred to the courts over the theft and embezzlement of electrical materials worth approximately IQD 1.7 billion (USD 1.34 million).

According to the Federal Commission of Integrity, a team from its Diyala office, under the direct supervision of Commission President Dr Mohammed Ali al-Lami, conducted an operation at the directorate and found that the officials had removed electrical materials from the directorate's warehouses without proper procedure. Warehouse custodians confirmed that none of the materials had been received or recorded.

The operation, carried out under a judicial warrant, resulted in the seizure of:

• Original and carbon-copy disbursement documents
• Exit papers and disbursement memos related to the case

Investigators found that the accused had prepared irregular disbursement documents, had them stamped by the directorate's internal oversight unit, and retained copies between two of the defendants. Standard procedure requires incoming materials to be registered via a transfer document signed by the warehouse custodian and entered into the inventory accounts unit.

The investigating judge at the Baquba Integrity Court ordered the detention of all four suspects under Article 316 of the Penal Code, with investigations continuing.

(Source: Federal Commission of Integrity)

By John Lee.

Iraq's Council of Ministers has authorised two senior officials to negotiate and sign agreements with Uzbekistan aimed at strengthening bilateral economic, trade, scientific, technical, and cultural cooperation.

The Council authorised the Minister of Trade to negotiate and sign a joint cooperation agreement covering economic, trade, scientific, technical, and cultural affairs. Separately, the head of the National Investment Commission (NIC), Dr. Haider Muhammad Makiya, was authorised to negotiate and sign a draft agreement on the promotion and protection of investment between the two countries, in accordance with the provisions of the Iraqi constitution.

The Council also directed a reassessment of investment opportunities in the electricity sector and the formation of an Iraqi-Uzbek Business Council to develop economic and commercial cooperation between the two countries.

(Source: PMO)

By John Lee.

Iraq's Ministry of Oil has been authorised to negotiate a long-term agreement with Turkey governing the Iraq-Turkey pipeline (ITP), according to a cabinet decision. The Council of Ministers approved an amendment to Resolution 254 of 2026, extending the pipeline contract for four months.

Under the amended resolution, the Ministry of Oil is authorised to negotiate with the Turkish side on:

• A long-term pipeline agreement
• Tariff rates
• Delivery quantities
• Commercial and technical requirements

The cabinet also approved an extension by the Ministry of Electricity of its own contract related to the Iraq-Turkey line for four months.

(Source: Council of Ministers)

By John Lee.

Iraq's Council of Ministers has approved a scheme to supply private generator owners with gas oil at a subsidised price of IQD 200 per litre (approximately $0.15), down from IQD 400 per litre ($0.31), for the next three months.

Under the scheme, operators will receive 40 litres per month for each KVA of production capacity. Total supply under the programme is expected to reach 1.357 billion litres (approximately 358 million US gallons).

Joint committees comprising representatives from provincial councils, the National Security Service, and the Ministry of Electricity will be formed to oversee implementation.

(Source: Council of Ministers)

By John Lee.

Iraq's Ministry of Electricity has agreed steps with Turkish company BKPS to reactivate a powership currently docked at Umm Qasr.

Electricity Minister Ali Saadawi Wahib met with representatives of BKPS, an affiliate of Karpowership, ahead of peak summer demand.

Powerships are self-contained, multi-fuel enabled floating power plants.

(Source: Ministry of Electricity)

By John Lee.

Iraq's new Prime Minister, Ali Faleh al-Zaidi, chaired the first regular session of the Council of Ministers on Saturday, issuing a series of directives to ministers that outline the government's policy priorities.

According to the Prime Minister's media office, the session included ministerial briefings on the current state of their respective ministries and the challenges they face.

Al-Zaidi subsequently issued a framework of instructions covering governance, anti-corruption, economic policy, and public services.

Key directives include:

• Financial disclosure by all ministers within one week
• A freeze on staffing changes and ministerial restructuring
• Each ministry to set out its priorities within 30 working days for inclusion in the government programme
• The Ministry of Oil to focus on adding value and increasing production and exports, not merely selling crude
• The Ministry of Electricity to prepare two plans: one for immediate solutions ahead of the current summer, and one for long-term grid development
• The Ministry of Health to activate the health insurance law
• The Ministry of Foreign Affairs to prepare briefing papers on restoring Iraq's relations with Arab, regional, and international partners
• Accelerated progress on the Development Road project and integration into global trade chains
• A single-window system to streamline investor procedures
• Full cooperation with the Federal Integrity Commission and efforts to recover smuggled Iraqi funds held abroad
• Digitalisation of administrative processes and automation of government functions

Al-Zaidi also established of a Financial Stability Council and the development of a comprehensive national economic policy.

(Source: Prime Minister's Office)