By John Lee. Iraq's Ministry of Electricity has signed a contract to construct three power substations in Basra Province. Funded by the World Bank, the project will add 3x90 MVA capacity at 132 kV, enhancing grid reliability, balancing loads, and reducing bottlenecks. According to a statement from the Ministry, the project will be executed by […]
By John Lee. The Iraqi Ministry of Planning held a meeting with the World Bank's Reform, Recovery, and Reconstruction Fund team to discuss a proposal for advisory services and support for implementing selected reform strategies. The $3.6-million project, funded by the World Bank, aims to enhance transparency and the efficiency of public services through policy […]
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani has presided over a meeting with a delegation from the International Finance Corporation (IFC), a member of the World Bank Group, to follow up on the Baghdad International Airport (BIAP) development project. The meeting discussed the steps taken by the IFC to attract investors and specialized […]
By John Lee. The Iraqi Ministry of Transport has announced a tender for the design and completion of the Baghdad-Baiji railway line, with plans to upgrade the Taji-Baiji section to UIC60 standard gauge. Partially funded by the World Bank under the Emergency Development Project, the contract covers design and construction work to modernize the current […]
By John Lee. The World Bank has recently published the National Education Strategy for Iraq 2022-2031 or also referred to as Iraq National Education Strategy (INES). Although issued in September 2024, the report covers the period from 2022 to 2031. According to a press release, the new document reflects on current challenges and presents a […]
Second phase of the PROSPECTS partnership launched in Iraq The Government of Iraq officially launched yesterday the second phase of the PROSPECTS partnership in Iraq, an initiative spearheaded and funded by the Government of the Netherlands. This four-year initiative, with a total investment of USD 46 million, aims to provide comprehensive crticial support to refugees, […]
By John Lee. The International Finance Corporation (IFC), a member of the World Bank Group, in collaboration with the Central Bank of Iraq (CBI), has signed an agreement to develop environmental and social risk management guidelines for the banking sector, and launched a seven-year Sustainable Finance Roadmap and an Environmental, Social, and Governance (ESG) Code […]
By John Lee. Iraq's Minister of Finance, Taif Sami Mohammed, held a meeting on Monday with a World Bank delegation led by the Regional Director for the Middle East, Jean-Christophe Carret. The discussions focused on enhancing cooperation in economic and social development. Key Discussion Points: Support for Transportation and Infrastructure Projects: Development of transportation and […]
By John Lee. The Government of Iraq, acting through the Ministry of Transport's General Company for Airports and Air Navigation Administration (GCAAN) as the tender authority, is launching a two-stage public tender to select a private partner to rehabilitate, expand, finance, operate, and maintain Baghdad International Airport (BIAP) under a long-term Public-Private Partnership (PPP) contract. […]
From the International Labour Organization (ILO): A holistic approach needed for reforming Iraq's pensions system in line with international labour standards A new policy note from the International Monetary Fund (IMF), International Labour Organization (ILO) and World Bank presents an overview of the key features of the comprehensive pension reforms in Iraq, including a tax-financed […]
By John Lee. Iraq has been named as the world's third biggest flarer of gas in 2023. According to the World Bank's Global Gas Flaring Tracker, the worst offender was Russia, followed by Iran, with Iraq in third place. The USA was in fourth place, followed by Venezuela and Algeria. The full report can be […]
By John Lee. Real GDP is expected to fall by 0.3 percent this year, according to the World Bank's latest Global Economic Prospects report. This represents a significant reduction on the previous forecast of 4.2 percent growth, issued in January. The report says, "oil production cuts have partly contributed to weakened activity in Iraq", adding, " projected […]
