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From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Engineers in northern Iraq are carrying out repairs on a vital dam damaged by the earthquake that also devastated areas in neighbouring Iran.

The dam, which provides water and electricity to about two million people, risks breaking and unleashing disastrous flooding.

More than 500 people were killed and about 70,000 were displaced after the deadliest earthquake of the year struck a border region between Iran and Iraq.

Al Jazeera's Sinem Koseoglu reports from Darbandikhan:

Iraq Britain Business Council holds successful Autumn Conference in Dubai

Following on from the first Iraq Britain Business Council conference in Dubai in 2016, the IBBC was delighted to host its Autumn Conference in the UAE once again. The event was strongly supported by the UAE authorities.

Alongside Baroness Nicholson, the UK Prime Minister’s Trade Envoy to Iraq and President of the IBBC, the conference was opened by H.E. Mr. Abdulla Ahmed Al Saleh, Under Secretary for Foreign Trade and Industry, UAE Ministry of Economy.

H.E. Mr. Abdulla reminded delegates that non-Oil & Gas related trade between the UAE and Iraq had already passed 11 Billion USD in 2016, with Dubai in particular being a hub for local and international companies in the region.

H.E. Mr. Abdulla firmly believes that the UAE's role in the rebuilding of Iraq will continue to expand and expressed his wish to cooperate with organisations such as the IBBC to accomplish this crucial task.

Vikas Handa, IBBC UAE Representative and the Managing Partner of the Emirati Company DrillTech, warmly thanked the minister and stated that the IBBC stands ready to work even more closely with the UAE in Iraq.

The Government of Iraq sent a high calibre ministerial delegation led by H.E. Mr Qasim Al-Fahdawi, The Minister of Electricity, to the conference. The delegation included H.E. Mrs Ann Naufi Aussi Balbool, Minister of Construction Housing and Public Municipalities; H.E. Kadhim Fijan Al Hamami, Minister of Transport; H.E. Dr Sami Al Araji, Chairman of the National Investment Commission (NIC); and H.E. Mr Fayadh Hassan Nima, Deputy Minister of Oil for refining affairs.

The conference was structured around several sessions in which the Iraqi officials and international companies operating successfully in Iraq, most of which are members of the IBBC, exchanged their views and experiences.

These sessions focused on strengths, weaknesses and opportunities of the economy in Iraq, Reconstruction & Infrastructure, Transport, Power and Oil & Gas. In parallel, a series of high level round-table discussions between investors and Iraqi Government representatives took place.

The conference included for the first time a presentation on the rapidly developing Tech sector in Iraq , given by the CEO of Zain.

IBBC thanks the International Finance Corporation (World Bank) and the IMF for its participation. Thanks also go to the IBBC members who sponsored the conference: Gold Sponsor International Islamic Bank; Silver Sponsors Serco and Gulftainer; Lunch Sponsor Rolls-Royce; pre-reception Sponsor Wood; and Coffee Break Sponsors Eversheds Sutherland and KCA Deutag.

IBBC Managing Director, Christophe Michels, stated that the increasing involvement of the UAE and wider GCC with Iraq was a game changer for the country. The IBBC very much welcomes this development and is delighted to be part of it and support it. The organisation will increase its presence in the UAE and the Autumn Conference in Dubai will become a regular feature in its calendar of events.

(Source: IBBC)

By Shelly Kittleson for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. 

Key Iraqi border town retaken amid regional power plays

Iraqi Prime Minister Haider al-Abadi raised the Iraqi flag Nov. 5 after climbing a sandy berm from which Islamic State (IS) flags could be seen about 200 meters (656 feet) away on the Syrian side of the border.

Al-Monitor’s reporter was the only Western journalist reporting from the border area at Qaim with the Iraqi forces in the first few days after the town's liberation, according to several officers on the front. No Western media were present during the actual operation, they said, during which access to even the surrounding area was severely restricted.

The city of Qaim, along Iraq’s westernmost edge, was proclaimed liberated Nov. 3, even though some of the nearby areas were not cleared until the following day.

The Iraqi army, counterterrorism forces and local tribal fighters trained by the international anti-IS coalition and non-local Popular Mobilization Units took part in the fighting.

Al-Monitor saw no civilians in the central areas or near the Syrian border while driving through the dusty, heavily damaged wasteland of Qaim’s streets Nov. 5. In the days following the liberation, Al-Monitor visited the only three families said to have remained in one area of the city.

A Nov. 6 sandstorm covered Qaim with a copper-colored layer of dust, severely limiting the visibility in the town and along the entire road toward it from the Jazeera operations headquarters in Haditha, roughly 150 kilometers (93 miles) away along a road torn up by improvised explosive devices (IEDs) that dips through wadis and passes by destroyed bridges.

A long string of knocked-down electricity transmission towers, still seemingly fully intact otherwise, can be seen from the road. There is no cellphone reception of any kind in the area. Frequent firing could be heard from the Iraqi side of the border at Qaim toward al-Bukamal in Syria on Nov. 6.

The Government of New Zealand has contributed an additional US$1 million to UNDP’s Funding Facility for Stabilization (FFS), which finances fast-track initiatives in areas liberated from the Islamic State of Iraq and the Levant (ISIL). This brings the New Zealand’s total contribution to FFS to $2 million to date.

Based on priorities identified by the Government of Iraq and local authorities, FFS helps quickly repair public infrastructure, provides grants to small businesses, boosts the capacity of local government, promotes civil engagement, and provides short-term employment through public works schemes.

UNDP Resident Representative for Iraq, Ms. Lise Grande, said:

“The scale of destruction in western Mosul is the worst in the country. The electricity, water and sewage systems all need to be rehabilitated. Many schools and hospitals are either damaged or completely destroyed. Tens of thosuands of people need jobs. With so much to do, we are very grateful to New Zealand for stepping forward with this contribution at this key point in time.”

The Chargé d’Affaires for the New Zealand Embassy in Iraq, Ms. Anna Reid, said:

“New Zealand congratulates the Iraqi people, the Iraqi Security Forces and the International Coalition on their ongoing success in defeating ISIL. Restoring core services and infrastructure is crucial to ensuring that people displaced by the conflict are able to return to their homes and communities.

"This further contribution to the Funding Facility for Stabilization, alongside our support to building capacity in the Iraqi Security Forces, demonstrates New Zealand’s commitment to support stability in Iraq.”

Established in June 2015, FFS is working in newly liberated areas in Anbar, Salah al-Din, Ninewah, Diyala and Kirkuk Governorates. More than 1,200 projects are completed or being implemented across 23 locations. Since the start of the crisis, over 2.2 million people have returned to their homes.

(Source: UNDP)

The World Bank has approved a US$400 million financial assistance package today to support the recovery, reconstruction and rehabilitation of priority infrastructure to restore delivery of public services in areas of Iraq newly liberated from the Islamic State of Iraq and Syria (ISIS).

The package represents an additional financing to the Iraq Emergency Operation for Development Project (US$350 million), approved back in July 2015 and already underway in seven cities in Diyala and Salah Ad-Din governorates.

The additional financing will allow the geographic scale-up of existing project activities to additional cities liberated from ISIS in the Salah Ad-Din and Diyala governorates, as well as in the governorates of Anbar (including Ramadi), Kirkuk, Ninawah (including Mosul) and the Kurdistan Regional Government’s (KRG’s) governorate of Dohuk.

Similarly, implementation responsibilities will also expand to subnational governments in addition to the central government institutions.

Saroj Kumar Jha, World Bank Mashreq Regional Director, said:

"The international community has expressed its commitment to support the urgent need for the Government-led reconstruction of Mosul and other recently liberated cities. The World Bank is committed to working with Iraqi authorities to ensure that this much-needed reconstruction takes place in a sustainable, inclusive and equitable manner to foster long term development and create opportunities for everyone."

The current project activities span over five primary sectors: water and sanitation, electricity, health, transport and municipal services. The additional financing will continue to support these sectors, as well as address pressing education, agriculture/irrigation and urban service delivery needs of communities in liberated areas.

It will also support the restoration and preservation of key cultural heritage assets especially in the Old City of Mosul. But beyond the physical repair, emphasis will be given to improving the quality of education for boys and girls, and increasing the employment of women, youth as well as the poor in both urban and rural areas.

The additional financing will also support the Government of Iraq in attracting private sector participation in reconstruction efforts. To this effect, studies will be carried out to assess the feasibility of public private partnerships in the reconstruction, operation and maintenance of Mosul airport, which was severely damaged during the liberation of Mosul.

Baroness Nicholson of Winterbourne, President of the Iraq Britain Business Council (IBBC) and UK Prime Minister’s Trade Envoy for Iraq, led a delegation of 25 IBBC member company representatives on a Trade Mission to Baghdad organised by IBBC Managing Director, Mr Christophe Michels and IBBC Co-Chairman and Iraq Representative, Mr Rasmi Al-Jabri.

Delegates included representatives from Penspen Ltd, Kuwait Energy, Serco, Wood, Ratba’a Contracting Co., Management Partners, Gulftainer, HWH & Associates, Al-Burhan Group, CCC, Dar Group, Restrata, Rolls Royce and new member XReach Ltd.

The delegation met with a number of ministers and high ranking officials to discuss future policies and opportunities for growth as well as focusing on business opportunities for IBBC member companies.

They also discussed the upcoming IBBC Autumn Conference in Dubai to be held on 12 November which will be attended by a powerful Iraqi Government delegation led by the Minister of Electricity. To register, please follow the link: http://www.webuildiraq.org/ibbc-conference/autumn-conference/

During the visit, delegates had meetings with:

• Mr Qasim Al-Fahdawi, Minister of Electricity
• Mr Abdul Kariem Al Faisal, Chairman of the PM’s Advisory Committee
• Dr Mahdi Al Alak, Secretary General of the Council of Ministers
• Dr Ann Nafi Aussi Balbool, Minister of Housing, Construction and Public Municipalities
• ‎Mr Dara Rasheed, Deputy Minister of Housing, Construction and Public Municipalities
• Mr Istabrak al Shouk, Deputy Minister of Housing, Construction and Public Municipalities
• Mr Imran Abass, Deputy Minister of Transport
• H.E. Mr Fayyad Naama Deputy Minister for refining operations, Ministry of Oil

The above meetings were joined by a number of Director Generals heading up the different departments in the various ministries.

On Sunday 29 October, IBBC Member Al Burhan Group, generously invited delegates for dinner at the Al Burhan Centre near the Baghdad International Airport.

The delegation was also invited for a Dinner at the British Embassy in Baghdad on Monday 30 October, where members delegates met with Representatives of the Foreign and Commonwealth Office, the Department for International Trade, the World Bank, the EU and the Prime Ministers Advisory Council.

(Source: IBBC)

Rebuilding Iraq is central to the agenda of the Iraq Britain Business Council (IBBC) autumn conference at The Address, Dubai Marina on 12^th November.

The opportunity for businesses in the region to engage in Iraq is reflected by the attendance of a number of high profile Iraqi Ministers: from Electricity, Transport, Oil, Construction and Housing, to the Governor of Basrah and International financiers, including the IMF and World Bank.

Vikas Handa, the IBBC UAE representative agrees:

“Iraq is the second largest oil producer in OPEC and has one of the biggest programmes for new power generation projects in the region; Iraq presents massive opportunities for housing, Infrastructure and FMCG businesses. The event is designed to discover the opportunities and projects live and intended in Iraq, for business people to meet the decision makers, to obtain insights and to network”.

UAE is increasingly seen as the regional hub for corporate operations in Iraq and the place where business decisions are determined.

We can confirm this as a range of leading international companies are attending, including GE, Siemens, BP, Wood, Serco, Shell, Petronas, Gulftainer, Zain, KCA Deutag, the International Islamic Bank and more. There will also be plenty of networking and engagement on the sidelines beyond the main stage.

The IBBC Dubai conference is also the location for the Governor of Basrah to outline his vision for the future, and it is expected ministers will outline the latest thinking on the evolving situation in Iraq and the opportunities this brings.

To register, please follow the link: http://www.webuildiraq.org/ibbc-conference/autumn-conference/

(Source: IBBC)

JICA to Support Reconstruction in Power Supply and Iraqi Government’s Fiscal Reforms: Signing of Two Japanese ODA Loan Agreements for Iraq

The Japan International Cooperation Agency (JICA) and the Iraqi Government have signed two loan agreements at Ministry of Finance in Baghdad.

These two ODA (Official Development Assistance) loans, amounting to JPY 57,220 million (approximately USD 502 million) in total, will be used for Phase 3 of the Electricity Sector Reconstruction Project and the Fiscal Reform Development Policy Loan (II).

The loan agreements were signed by Dr. Maher Hammad Johan, Acting Deputy Minister of Finance and Yuho Hayakawa, Chief Representative of JICA Iraq Office, in the presence of H.E. Mr. Fumio Iwai, Japanese Ambassador to Iraq.  These concessional ODA loans aim to support the Government of Iraq and Iraqi people in efforts to reconstruct the country with significant challenges.

The first loan, amounting to JPY 27,220 million (approx. USD 239 million), is used for the Electricity Sector Reconstruction Project (Phase 3).  The Ministry of Electricity implements the project which reconstructs and develops fixed and mobile substations in conflict-affected Anbar as well as Baghdad and surrounding areas.  The project is expected to contribute to restoration and stabilization of electricity supply to millions of people in conflict-affected areas.  Prior to this Phase 3 project, JICA is already funding preceding Phase 1 and Phase 2 projects in various governorates.

The second loan, Fiscal Reform Development Policy Loan (II) amounting to JPY 30,000 million (approx. USD 263 million), supports the budget of the Government of Iraq with urgent needs for enormous financial resources.  It aims to promote on-going administrative and financial reforms of the Government through (i) expenditure rationalization, (ii) energy efficiency and (iii) transparency and governance of state-owned enterprises.  This is a part of phased co-financing supports with the World Bank and other partners since 2016.  The previous phase of this loan, of which amount is JPY 25,000 million (approx. USD 219 million), was already fully disbursed in June 2016.  JICA is also implementing technical cooperation for strengthening debt management capacity of the Iraqi government officials, which is required under the reform program.

Both loans are very concessional with the interest rate of JPY LIBOR+0.05% and the repayment period of 15 years including 5-year grace period.

JICA is a development assistance agency under Japanese Government and provides financial and technical cooperation for developing countries.  Since 2003, it has provided assistances for Iraq through ODA loans which amount to JPY 683 billion (equivalent to USD 6.0 billion) and technical cooperation including training programs in which more than 8,000 Iraqi officials have participated. JICA supports Iraq’s efforts for urgent reconstruction, stabilization of people’s daily lives and sustained socio-economic development of the country.

(Source: JICA)

Ur State Company, one of the companies of the Ministry of Industry & Minerals is pleased to announce the availability of an investment opportunity to participate in a percentage of production medium voltage cables products and invites Iraqi, Arab and foreign companies with experience and specialization in the field of investment to participate and contract in the above participation contract in accordance with the provisions of Article 15 paragraph (3) of the public companies Law No. 22 of 1997 amended and the instructions attached to it and the instructions of the Council of ministers Decree No. 492 of 2013 through the partner supply and installation of the complete factory to produce medium voltage cables products and according to the specifications and quantities shown in the attached documents .

Companies wishing to participate in the above participation contract, in accordance with the terms and conditions attached to the declaration, should come to the company headquarters located in Nasiriyah, or Baghdad office, which belong to our company located in Karrada area , Albou Jomaa , 139, Abu Nawas St., adjacent to Diana Tourists hotel , mobile no. 07901794527 by sending authorized person with an official signed letter authorizing him to purchase the declaration documents for the amount of (250000) two hundred and fifty thousand dinars non- refundable and are provided with a receipt bill.

Offers shall be presented in three closed and separate envelopes, the first one for the technical offer, the second for the commercial offer and the third for the participating company commitments and documents, provided that the envelopes are sealed and stamped and write on it the contents of the envelope (technical, commercial, closing date and company name ).

The first envelope of the technical offer includes:

• Presenting statement documentation of the participating company and attach C.V for it and its assisting companies, its nationalities and its business history.
• Submit a list of similar previous works carried out by the company in the field of investment for last five years provide that it is certified by the beneficiary if any.
• Determine the production capacity of the project
• Presenting the details of machines and production lines (numbers, specifications and originators) and equipment and networks of industrial services required of electricity, industrial water and compressed air … etc.
• Determine the period of implementation and submit a schedule that includes the implementation of the work for all parts of the project.

By Dr. Olgu Okumuş for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

On Sept. 28, when Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan jointly stated their support for the sovereignty and territorial integrity of Iraq, they also made a point of stressing their countries' continued commitment to two joint mega energy projects: the Turkish Stream gas pipeline and the Akkuyu nuclear power plant.

The success of these projects would diminish the importance of the Kurdistan Regional Government (KRG) as a regional economic actor, pushing the significance of its oil and gas resources into the background.

Given the KRG's apparent hope to leverage such resources as part of a continued drive for independence — a drive Erdogan has said would lead to "even more serious mistakes” by the KRG — Erdogan and Putin’s joint statements are worthy of increased scrutiny.

This was the second visit by the Russian leader to Turkey since the improvement in relations that has taken place after ties suffered a major blow when Turkish forces shot down a Russian jet in November 2015. Putin’s first visit, in October 2016, was also energy-inspired, as it occurred at Erdogan’s invitation to participate in the 23rd World Energy Congress.

Last week’s meeting was labeled a "solely pragmatic meeting” by the Kremlin, because it covered several essential bilateral trade issues, such as Turkey’s purchase of Russia’s S-400 missile system, Russia’s embargo on Turkish tomatoes and the two countries’ joint energy projects. At the leaders' press conference, they stressed their discussions on energy projects, while also commenting on international security issues such as Syria and the KRG independence referendum.

Turkey needs a cooler relationship with the KRG. Since January 2013, the Turkish-British joint venture Genel Energy’s truck-based deliveries from the KRG have been bypassing the Baghdad-controlled Kirkuk-Yumurtalik oil pipeline; the oil has instead been going to Turkey’s Ceyhan port on the Mediterranean Sea. This had already prompted concerns about the KRG’s drive for economic and political independence, and pushed Ankara into the middle of an international diplomatic crisis.