By John Lee. Iraq's Department of Non-Governmental Organizations, in cooperation with the United Nations Development Program (UNDP), has launched a project to empower civil society organizations in partnership with the Central Bank of Iraq (CBI), the Islamic Development Bank and the Islamic Solidarity Fund. The project aims to empower organizations and improve the social and […]
The United Nations Development Programme (UNDP) in Iraq has signed an agreement with Government of Iraq's Reconstruction Fund for Areas Affected by Terroristic Operations (REFAATO) to provide residents in Ishaqi, Salah-Al Din with access to safe reliable drinking water. Approximately $1.25 million, generously provided to REFAATO by the Islamic Development Bank, will be used to […]
By John Lee. Reuters quotes a central bank spokesman as saying that the Islamic Development Bank (IDB) has given its initial agreement to provide $3 billion in easy loans and grants to Iraq. Iraq earlier this month agreed a $5.4 billion standby loan with the International Monetary Fund (IMF) in a deal that could unlock […]
By Simon Kent. Two days after the beginning of Iraq's entry into the Eurobond market, in which the country hopes to raise up to $6 billion, Iraq has announced it is seeking a $500 million loan from the Jeddah based Islamic Development Bank (IDB.) However, according to a source in the Iraqi govt. the sum […]
Iraq’s Finance Minister, HE Dr. Safauddin Mohammed Al Safi, and the Acting President of the Islamic Development Bank (IDB), Dr. Abdul Aziz Al Hinai (pictured), have signed an agreement for $217 million to fund the construction of Expressway No. 1, a major trade-corridor connecting Iraq to its neighbouring countries. The signing was attended by HE […]
From The World Bank. A new project will reduce traffic fatalities by nearly 25 percent on two transport corridors connecting Iraq to its northern, southern and western neighbors and beyond. The US$355 million Iraq Transport Corridors Project, approved by the World Bank Board of Directors on Thursday, will improve road quality and safety and promote […]
Businesses across the Middle East and North Africa will get a £4.5 million boost from the UK, Prime Minister David Cameron announced at the World Islamic Economic Forum on Tuesday. The UK’s funding to the Nomou business fund will be matched by the Shell Foundation to support ‘missing middle’ businesses - those too large for […]
Iraq has applied to join the Economic Cooperation Organization, or ECO, Turkey's President Abdullah Gul has reported, according to an article at the weekend from World Bulletin. Leaders of ECO-member countries gathered in Istanbul for a one-day summit meeting during which Turkey assumed the rotating term presidency from Iran. Iraq, as well as Qatar and […]
