By John Lee. The Iraq Development Fund has reportedly signed memoranda of understanding (MoUs) with four major countries to advance development cooperation and investment. Executive Director Mohammed al-Najjar told state-run Iraqi News Agency (INA) that the Fund has signed three MoUs with France, two with the United Kingdom, and two with the United States, in […]
By John Lee. Prime Minister Mohammed Shia' Al-Sudani met on Sunday with a group of businessmen and representatives of 17 Turkish companies from various sectors, in the presence of the Chairman of the National Investment Commission (NIC), the Executive Director of the Iraq Development Fund, several advisers, and the Turkish Ambassador to Iraq. The press […]
By John Lee. The Iraq Development Fund has reportedly signed a memorandum of understanding with British firm Agrium Capital to establish Iraq's first modern infant formula production facility, with a planned capital expenditure exceeding $200 million. The plant, which will use locally sourced ingredients including Iraqi milk, is expected to meet 85 percent of the […]
By John Lee. A Memorandum of Understanding (MoU) has been signed between the Turkiye Wealth Fund and the Iraq Development Fund, marking what TWI describes as a significant step toward deepening economic cooperation between the two countries at the sovereign wealth fund level. The agreement aims to foster innovation-driven investments across priority sectors including energy, […]
By John Lee. Prime Minister Mohammed S. Al-Sudani participated this week in a financial forum held in London during his official visit to the United Kingdom. The event brought together major British financial institutions, representatives of the Iraqi private sector, and government officials from both nations. In his remarks, Prime Minister Al-Sudani emphasized the strategic […]
By John Lee. Prime Ministers Keir Starmer and Mohammed S. Al-Sudani have unveiled an ambitious £12.3 billion [$15 billion] UK-Iraq trade and investment package aimed at enhancing prosperity and bilateral economic ties. The agreement represents over a tenfold increase in trade compared to last year and underscores both nations' commitment to strategic collaboration across key […]
By John Lee. The Development Fund for Iraq has signed Memoranda of Understanding with 12 Saudi companies. A statement from Saudi Arabia's Ministry of Investment did not specify the companies or the details of the MoU's, but said that they are intended to enhancing cooperation with Iraqi "in a number of qualitative investment projects." (Source: […]
By John Lee. Iraq's Prime Minister, Mr. Mohamed Shiaa Al-Sudani, presided over the first meeting of the Iraq Development Fund Council, of which he is the chairman. The formation of this council was approved in the recent Cabinet session. During the meeting, topics on the agenda were discussed, including the selection of the fund's executive […]
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani met with a delegation from J.P. Morgan Bank, including Daniel Zelikow, Vice Chair, and Mr. Ghali Laraki, Head of MENA Public Sector Group. The meeting focused on supporting Iraq's banking sector, the Central Bank of Iraq (CBI), and the private sector. Discussions also touched on international […]
The Al-Bayan Center for Planning and Studies has proposed the creation of sovereign wealth fund in Iraq. Once used by only a few countries around the world, Sovereign Wealth Funds (SWFs) are becoming an increasingly common feature of international finance and state-led economic development. An increasing number of countries, predominantly developing countries, who rely on the export of commodities […]
The World Bank expects the Iraqi economy to grow 3.1 percent in 2016, according its flagship "Global Economic Prospects" report released yesterday. This follows an estimated growth of 0.5 percent last year, driven by increased oil production. Growth rates of 7.1 percent and 6.5 percent are predicted for 2017 and 2018 respectively. These figures are […]
Further to the recent news regarding the transfer of control of the Development Fund for Iraq from the UN to Iraqi control, full details of the final meeting of the International Advisory and Monitoring Board (IAMB)'s last meeting in Amman, Jordan, on 30th June, are attached below. Please click here to download the IAMB's press […]
