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 […]
Five One Labs Launches New Business Support Program in Iraq in Partnership with the World Bank Group The World Bank Group and Five One Labs, an international startup incubator with operations in the Kurdistan region of Iraq, are partnering to spearhead initiatives supporting forcibly displaced related startups and micro, small, and medium-sized enterprises (MSMEs) in […]
By John Lee. The Iraq Securities Commission (ISC) has signed an agreement with the International Finance Corporation (IFC), a World Bank Group member, to develop an Environmental, Social, and Corporate Governance (ESG) guide. This initiative aims to integrate international best practices into Iraq's securities market to enhance its performance and effectiveness. According to a statement […]
By John Lee. The International Monetary Fund (IMF), International Labour Organization (ILO), and World Bank have issued a detailed report on the reform of Iraq's pension system. The report, titled "Towards an Inclusive, Equitable and Sustainable National Pension System in Iraq", highlighted the following key points: Importance of Pension Systems: Central to social protection. Ensures […]
By John Lee. Iraqi Finance Minister Taif Sami met with World Bank Executive Director for Iraq, Abdulaziz Al Mulla, to discuss the World Bank's support for Iraq, including financial aid, technical support, and capacity building. Al Mulla emphasized the bank's commitment to supporting member countries and that Iraq would benefit from the World Bank's programs […]
By John Lee. Iraqi Finance Minister Taif Sami, along with her accompanying delegation, participated in the annual Spring Meetings of the World Bank Group and the International Monetary Fund (IMF), held from April 15 to 20, 2024, in Washington, D.C. The meetings addressed global economic challenges, economic development, financial stability, and related issues through general […]
By John Lee. Finance Minister Satif Sami has met with Jean-Christophe Carre, the Regional Director for the Middle East at the World Bank, along with the bank's Special Representative in Iraq, Richard Abdulnour, and a number of experts and specialists. The meeting discussed development project priorities and ways in which the World Bank can support […]
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 […]
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 […]
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 […]
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 […]
