Tag Archives | World Bank

Navigating Social Norms to Empower Iraq's Female Workforce

By Soraya El-Khalil and Tala Ismail, for the World Bank. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Navigating social norms to empower Iraq's female workforce As we mark International Women's Day this month, we spotlight the main hurdles to women's labor force participation […]

Tackling Contaminated Sites in Iraq to cost $420m

By A.S. Harinath and Ahmed Ali, for the World Bank. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Conflict Pollution: Lessons from Iraq In Iraq, successive conflicts, including attacks on its oil and industrial assets, have created environmental pollution hotspots. Tackling the contaminated sites […]

Int'l Finance Corp (IFC) ready to cooperate with Iraq

By John Lee. A delegation from the International Finance Corporation (IFC), led by Ms. Hala Sheikh Rouh, Vice President of the IFC for the Middle East, was received by Prime Minister Mr. Mohammed Shiaa Al-Sudani on Tuesday. The meeting involved discussing areas and prospects of cooperation between Iraq and the IFC, which is part of […]

New Initiative to Help Iraqi Entrepreneurs

By John Lee. The International Finance Corporation (IFC), Iraq Venture Partners (IVP), and Innovest Middle East have created a new initiative that aims to address the challenges faced by entrepreneurs in Iraq. A statement from IFC said the new program, "Scale Iraq (#ScaleIraq)", will support 20 startups, addressing their specific needs and gaps, esigning and […]

IFC Invests in Iraqi Cement Company

By John Lee. The International Finance Corporation (IFC), part of the World Bank Group, is investing in Al-Douh Iraqi Company for Cement Industries ("Al Douh"), a leading cement manufacturer and part of Al-Riyadh Investment Companies Group (RICG). According to a statement from the IFC, the decision was made to help boost economic diversification and spur […]

PM Al-Sudani mets World Bank Group President in Davos

By John Lee. On the sidelines of the World Economic Forum (WEF) in Davos, Iraqi Prime Minister Mohammed Shia Al-Sudani met with Mr. Ajay Banga, the President of the World Bank Group. The meeting focused on discussing cooperation between Iraq and the World Bank in various economic sectors, contributing to supporting the government's efforts and […]

Conflict Pollution Hotspots in Iraq

From the World Bank: Conflict Pollution Hotspots in Iraq : Land Remediation for Livelihoods Restoration Successive conflicts in Iraq were characterized by tactics to damage its oil and industrial assets that not only led to huge economic loss, but pollution of environmental resources (air, land, and water) on an unprecedented scale. The Damage and Needs […]

$112m for Turkish Agri Complex at Umm Qasr Port

The International Finance Corporation (IFC), part of the World Bank Group, is supporting Sama Al-Manar and Manar FZCO, subsidiaries of Türkiye-based Tiryaki Agro, in developing a new state-of-the-art agro-industrial complex in Iraq's Umm Qasr Port, including a soybean crushing plant and warehouses, which will help bolster food security, create jobs, and diversify the country's economy […]

Funding Iraqi Entrepreneurs under the PROSPECTS Programme

The ILO, the Central Bank of Iraq and partners celebrate success of the financial Inclusion Initiative for MSMEs under the PROSPECTS Programme [EN/AR] Hundreds of loans have been disbursed to aspiring entrepreneurs and existing MSMEs through the project, contributing to the creation and retention of more than 1,200 job opportunities for Iraqi host communities and […]

World Bank Revises Down Iraq GDP Growth

By John Lee. The World Bank has revised down its estimates for growth in Iraq. In its MENA Economic Update (previously known as MENA Economic Monitor), it says the forecast for GDP growth in Iraq for 2023 has been updated to -2.3 percent, 5.1 percentage points less than the forecast in April 2023, and significantly […]

World Bank Corrects Iraq Debt-to-GDP Ratio in Report

From the World Bank: Statement on the Iraq Economic Monitor Spring/Summer 2023 The World Bank identified an error in the reporting of debt data for 2022 and projections for ensuing years reported in the recently published Iraq Economic Monitor (IEM) Spring/Summer 2023 issue. As a result, the debt-to-GDP ratio in 2022 was corrected from 53.8 […]