By John Lee. Prime Minister Mohammed Shia' Al-Sudani inaugurated the National Data Center at the General Secretariat of the Cabinet, marking a significant stride in Iraq's digital evolution. Al-Sudani inspected the progress of the first phase of the center's development, which incorporates smart screens and models depicting stages of the National Cloud Facility installation. This […]
By John Lee. A press release from the World Bank highlights the need for more schools to be built in Iraq. In their report -- Iraq: New schools and improved learning bring hope to the poorest children, but more is needed -- Jaime Saavedra and Elisabeth Sedmik argue that more than 8,000 schools need to […]
From the World Bank: Without Reforms, Iraq's Oil Boom Could Turn to Bust Iraq's economy continued its oil-driven recovery after the sharp pandemic-induced recession in 2020, but non-oil sectors have stagnated, and growth constraints have reemerged. Despite a record oil windfall and a long-awaited new budget, Iraq nevertheless remains at risk of missing the opportunity […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alak, received a delegation from the International Finance Corporation (IFC), a subsidiary of the World Bank Group. The meeting discussed bilateral cooperation in the banking sector and its development to align with global technologies. They also reviewed the latest updates on […]
By John Lee. The Governor of Central Bank of Iraq (CBI), Dr. Ali Mohsen Al-Alaq, has met with a delegation of experts from the International Finance Corporation (IFC), affiliated with the World Bank, led by Mr. Marcel Rashid. The meeting focused on enhancing the relationship between the Central Bank of Iraq and the IFC, and […]
By John Lee. The World Bank's International Center for Settlement of Investment Disputes (ICSID) has appointed an ad hoc committee to consider the possible annulment of an award made in favour of the Iraqi Government, in relation to a dispute over the alleged takeover of a cement factory in Kirkuk. Germany's AHG Industry GmbH & […]
By John Lee. The World Bank has said it predicts real GDP growth for Iraq of 2.8 percent this year and 4.4 percent in 2024, following an estimated growth of 7.9 percent in 2022. Iraq's growth is expected to lead the group of 'developing oil exporters' this year, partly sustained by growth in non-oil GDP […]
By John Lee. The World Bank's latest Global Gas Flaring Tracker Report, a leading global and independent indicator of gas flaring, finds that global gas flaring decreased by three percent to 139 bcm in 2022 from 144 bcm in 2021 Consistent with previous years, flaring during 2022 was dominated by a relatively small number of […]
A Tale of Two Transitions : Iraq's Energy Sector and Macroeconomic Stability in a Climate-Constrained World (English) This paper from the World Bank assesses the costs and benefits of Iraq's own energy transition from fossil fuel dependent power sector to one with a significantly higher share of renewables amid an accelerating global energy transition. The […]
Seed investor Flat6Labs has launched its StartMashreq entrepreneurship program. The regional program is being implemented over a two-year period in partnership with the International Finance Corporation (IFC), a member of the World Bank Group, and the government of the Netherlands. As the first program of its kind, StartMashreq will offer comprehensive support to entrepreneurs across […]
By John Lee. On Wednesday, Iraq's Minister of Finance, Taif Sami Muhammad, met with a delegation from the International Finance Corporation (IFC), which is part of the World Bank Group. The delegation was headed by investment officer Mr. Julie Kalos and Mr. Bilal Rabah, the resident representative of the Corporation in Iraq. The meeting discussed […]
By John Lee. On February 13, 2023, the ambassadors of the Iraq Economic Contact Group (IECG), under German co-chairmanship, met with representatives of the Iraqi parliament's finance committee to exchange views on key economic reforms and ongoing budget negotiations. Ambassador Jäger reiterated the offer of support from the G7 countries to assist Iraq in furthering […]
