Iraq to Support Youth in Agriculture and Climate Sectors
By John Lee. Iraq's Supreme Council for Youth has launched "Mubadara Al-Khair" (Initiative of Goodness) programme to empower young entrepreneurs in agriculture, food security, livestock, and climate sectors. The initiative, directed by Prime Minister Mohammed S. Al-Sudani, includes: Providing loans to youth-led projects. Training and mentorship for participants. Support in acquiring modern equipment for agricultural […]
Knights: "Make Iraq Independent of Iranian Energy"
By Michael Knights, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Make Iraq Independent of Iranian Energy By letting previous waivers expire, the United States can help Baghdad establish other suppliers and stand on its own […]
Central Bank of Iraq Revokes ForEx Licence
By John Lee. The Central Bank of Iraq (CBI) has decided to revoke the licence of Al-Tufan Company for Currency Exchange and Brokerage due to what it describes as violations of Regulation No. (1) of 2022, which governs the operations of exchange and brokerage firms in Iraq. Click here to see the full statement from […]
Iraq's Banking Loans Grew by 5.4% in Q4 2024
By John Lee. The Central Bank of Iraq (CBI) has reported a 5.4-percent increase in banking sector loans and advances in Q4 2024, reaching IQD 64.12 trillion [$49 billion], up from IQD 60.81 trillion in the same period of 2023. According to state-run Iraqi News Agency (INA), the CBI noted that this growth reflects improved […]
Iraq, Switzerland Discuss Efforts to Recover Smuggled Assets
By John Lee. Iraq's Federal Commission of Integrity (COI) has called on United Nations Convention Against Corruption (UNCAC) member states to enhance legal cooperation in recovering stolen assets and illicit funds. During a meeting with Swiss Ambassador Daniel Hunn, COI Chairman Dr. Mohammed Ali Al-Lami stressed Iraq's commitment to eradicating corruption and preventing capital flight, […]
PM calls for creation of Iraqi-Serbian Business Council
By John Lee. Prime Minister Mohammed S. Al-Sudani met with Branislav Žeželj, the Serbian Ambassador to Iraq, on Tuesday, to discuss bilateral relations and economic cooperation. During the meeting, the Prime Minister received an official invitation from the Serbian President to visit Belgrade, as well as an invitation for Iraq to participate in Expo 2027, […]
Iraq Approves Loans from France for Sewerage Projects
By John Lee. The Iraqi Council of Ministers has authorised the Minister of Finance, or her delegate, to sign a loan agreement with the Agence Française de Développement (AFD) to finance the Al-Hamza District Sewer Project in Al-Diwaniyah Province. This approval falls under Federal Budget Law No. 13 of 2023, covering fiscal years 2023-2025, for […]
Five New Initiatives to Empower Iraqi Women
By John Lee. Prime Minister Mohammed S. Al-Sudani announced five developmental projects and programs aimed at supporting and empowering women, during a celebration marking the National Day of Iraqi Women on March 3. The initiatives include: The Third National Plan for Women, Peace, and Security (2025-2030) to enhance women's participation in decision-making, strengthen protections against […]
Iraq's Central Bank Increases Gold Reserves by 45.1%
By John Lee. The Central Bank of Iraq (CBI) has reported a 45.1-percent increase in its gold reserves in Q4 2024 compared to the same period in 2023. Reserves rose from IQD 12.29 trillion in Q4 2023 to IQD 17.83 trillion [$13.6 billion] in Q4 2024, driven by both an increase in gold holdings and […]
Iraq's Oil Marketing Organization announces new Director General
By John Lee. Iraq's State Oil Marketing Organization (SOMO) has announced Ali Nizar Fayeq al-Shatari as its next Director General. He succeeds Khudhyer Abbas Abed, who has held the role for less than a year. Originally qualified as a chemical engineer from the University of Baghdad, Al-Shatari completed an MSc in Energy Economics and Policy […]
PowerChina Discusses Energy Projects with Iraqi PM
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani met with PowerChina CEO Chen Guanfu and his delegation to review the company's ongoing energy projects in Iraq, including solar energy, combined cycle, and gas power plants. The discussions focused on expanding PowerChina's operations in line with the government's strategic energy diversification plans. The meeting also […]
PM Directs Immediate Launch of Govt Renewable Energy Projects
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani chaired a meeting of the National Team for Renewable Energy Projects and Energy Efficiency, where he reviewed plans to enhance clean energy production and improve energy efficiency across Iraq. The Prime Minister emphasized the critical role of solar power in reducing reliance on traditional fuels and […]