Vast Sums Allocated to Fund Solar Energy Loans, but Few Takers
By John Lee. The Central Bank of Iraq (CBI) has so far issued loans worth IQD 6 billion (approximately USD 4.6 million) to support the purchase of solar energy systems, while expecting demand to increase during 2026. Speaking to the state-run Iraqi News Agency (INA), Rafel Hussein, Director of Initiatives at the CBI, said the […]
Iraq Granted 1,867 New Project Licences in 2025
By John Lee. The General Directorate for Industrial Development at the Ministry of Industry and Minerals granted 1,867 licences under establishment for new industrial projects during 2025, according to an official statement. The Director General, Ali Ibrahim, said the licences covered a wide range of sectors, including food, chemical, metal, construction, textile and engineering industries, […]
Electricity Ministry Advances GE Partnership; 24GW in New Capacity
By John Lee. The Ministry of Electricity is moving to deepen its strategic partnership with General Electric (GE) of the United States, as part of plans to add up to 24,000 megawatts of new generation capacity and strengthen the national power system. The Director General of the Planning and Studies Department, Hussein Badr, chaired a […]
NIC, South Korea Discuss Investment Cooperation
By John Lee. National Investment Commission (NIC) Chairman Haider Mohammed Makkiya met South Korean Ambassador to Iraq Lee Joon-il in Baghdad to discuss expanding bilateral cooperation in investment, trade and economic relations. The talks reviewed investment opportunities across industry, housing, energy and infrastructure, as well as measures to improve the investment environment for South Korean […]
Iraqi FM "Confirms Change in US Envoy"
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi FM Confirms Change in US Envoy as Political Tensions Mount Iraqi Foreign Minister Fuad Hussein told Kurdistan24 that Mark Savaya is no longer serving as the United States' special envoy to Iraq and […]
South Refineries FCC Unit Enters Full Operation
By John Lee. The Ministry of Oil has announced the successful commissioning of the Fluid Catalytic Cracking (FCC) unit at South Refineries Company (SRC), with the start of production of high-octane upgraded petrol. Deputy Prime Minister for Energy and Minister of Oil Hayan Abdul Ghani Al-Sawad praised the workforce at South Refineries Company for achieving […]
Iraqi Oil Minister Takes Charge of Electricity Ministry
By John Lee. The Deputy Prime Minister for Energy and Minister of Oil, Hayan Abdul Ghani Al-Sawad, has formally assumed his duties as Acting Minister of Electricity, following an official mandate from the Council of Ministers. He replaces Ziyad Ali Fadhil [Fadel], who has taken up his seat as a member of parliament. According to […]
Iraq Recovers Over $3m in Embezzled Funds
By John Lee. Iraq's Commission of Integrity has recovered more than $3 million in embezzled funds belonging to the Baghdad Municipality, following a favourable ruling by the Lebanese judiciary in support of the Iraqi government. The authority said the recovery was achieved through close coordination with the Iraqi Embassy in Beirut, leading to enforcement of […]
Iraqi-Korean Partnership Produces 360 Kia Field Vehicles
By John Lee. The State Company for Automotive Industry (SCAI), under the Ministry of Industry and Minerals, has completed production of the first batch of 360 single-cabin Kia field vehicles, assembled entirely by Iraqi hands in partnership with Kia Motors of South Korea. The company's Director General, Dana Saadallah Saeed, announced that the vehicles, model […]
Funding Facility for Stabilization - 2025 Quarter Three Report
From the United Nations Development Programme (UNDP). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Since January 2024, the Funding Facility for Stabilisation (FFS) project has been in a Transition Phase (2024-2026), consolidating nearly a decade of stabilisation gains across the five liberated governorates […]
Oil Ministry Reviews Progress at Gas Growth Integrated Project (GGIP)
By John Lee. The Ministry of Oil has reviewed progress on the Gas Growth Integrated Project (GGIP) in Basra during a site visit to the Artawi [Ratawi] oilfield. Undersecretary for Extraction Affairs Bassem Mohammed Khudair inspected key projects being implemented by TotalEnergies, in partnership with QatarEnergy and Basra Oil Company (BOC). The visit covered the […]
Egypt, Iraq Facilitate Cross-Border Road Transport
By John Lee. Iraq's Ministry of Transport has announced a series of measures agreed with Egypt to facilitate road transport of passengers and goods between the two countries. The decisions were reached during the first meeting of the joint technical committee, held in Cairo on 13-14 January 2026, as part of the implementation of the […]