International Finance of the Word Bank: We will intensify investment in Iraq and throughout the Middle East
A senior official at the International Finance Corporation of the World Bank that the organization plans to increase its investments in Iraq in addition to Yemen, and North Africa next year to contribute to the support of development and job creation.
Said Vice President of the Foundation for Europe, the Middle East and North Africa Dimitris Tsetserajus that “his organization plans to invest nearly $ 100 million next year in the OPEC member Iraq, which holds the fourth largest oil reserves in the world, “he said, adding” we have invested so far $ 400 million in Iraq and we are planning to invest more next year. “
He said that the company made last year credit facility for seven years worth $ 400 million for Zain Iraq, a mobile phone service provider subsidiary of Kuwait’s Zain has also invested in Ahli United Bank, the largest bank in Iraq in terms of market value. The Foundation since early last year to arrange financing worth $ 450 million to Orascom Construction Industries of Egypt, in addition to funding worth $ 137 million to Hikma Pharmaceuticals Jordan and loan $ 50 million to cement company French Lafarge to expand its activities in Iraq.
Considers the organization that invests in the development sector Special in emerging economies with particular emphasis on small and medium enterprises opportunities in infrastructure, energy, education and health care in the Middle East and North Africa. said Tsetserajus that the Middle East and North Africa are a strategic priority for the institution, of course depends a lot of things on the market conditions, but we aim to keep our program at the current level and hope to be strengthened.