Baghdad – The International Finance Corporation (IFC) confirmed on Wednesday that it has launched investments worth around $1 million in Iraq. The funds will support projects across the energy, health, and industrial sectors. IFC Resident Representative Bilal Al-Saghir made the announcement during a press statement. He emphasized that the organization aims to expand private sector growth in emerging economies.
Al-Saghir explained that the IFC offers both investment and advisory services to help strengthen local businesses. He noted that the new funds will provide financial support and consulting for numerous projects. He added that these initiatives aim to increase productivity and encourage sustainable growth across multiple industries.
A significant portion of the investment will target the energy sector, especially projects focused on gas conversion and preventing gas flaring. Al-Saghir highlighted that these efforts will help reduce environmental damage while boosting energy efficiency. Meanwhile, the remaining projects will support health, industrial, and banking sectors. This diverse approach reflects the IFC’s desire to deepen its investment presence in Iraq.
Looking ahead, Al-Saghir said the IFC will soon announce additional projects in Iraq. He expressed confidence in the country’s economic direction, stating, “Iraq is moving rapidly towards a better future.” He also praised the resilience of Iraqi people and their potential to achieve sustainable economic development.
In conclusion, Al-Saghir expressed his pleasure in participating in the trip and reaffirmed the IFC’s belief in Iraq’s growth potential. He added that the organization will continue supporting Iraq through investments and advisory services. Overall, he said, iraq is moving rapidly toward a stronger and more stable economic future.
