Iraq: World Bank can support renewable energy, waste management, and metro projects
Iraq: World Bank can support renewable energy, waste management, and metro projects
2025-04-26 00:18
Shafaq News/ The Ministry of Finance reported on Saturday that an official delegation from the Iraqi government discussed global economic challenges, economic development, financial stability, and other related issues with the World Bank Group and the International Monetary Fund.
According to a statement issued by the ministry, Minister Taif Sami Mohammed, Governor of the Central Bank of Iraq Ali Al-Alaq, and the accompanying delegation participated in the annual spring meetings of the World Bank Group and the International Monetary Fund, held from April 20 to 23, 2025, in Washington.
The ministry said in a statement that Sami began her participation in the first meeting with the Executive Director of the World Bank, Abdul Aziz Al-Mulla. The meeting discussed the economic situation in Iraq and the role of the World Bank in supporting Iraq in its reform programs, particularly in maximizing revenues, reducing expenditures, digitization, electronic systems, and infrastructure, energy, and environmental projects.
The statement added that she also met with Hela Sheikh Rouhou, Regional Vice President of the International Finance Corporation (IFC), and her accompanying delegation, and discussed with her the most important obstacles to investment in Iraq, ways to address them, and the most important projects that the corporation is overseeing in Iraq in the transportation, energy, and international trade finance sectors.
Sami explained that the foundation can support the Iraq Development Fund projects.
The Deputy Chairman of the Foundation also stressed the importance of supporting the private sector and its projects, as well as supporting the agricultural and industrial sectors in Iraq.
The delegation, headed by Taif Sami, held a high-level meeting with the World Bank’s Vice President for the Middle East, Othman Dawani. The meeting discussed the World Bank’s portfolio of projects, particularly the railway project in Iraq. It was agreed to review this portfolio to monitor project implementation, identify any obstacles to progress, and find solutions for their implementation and completion within the specified timeframe.
The government’s priorities for future projects, for which the World Bank could provide support, were also discussed. These include renewable energy, waste management, and transportation projects, particularly the metro, airports, and railways. Human development in Iraq, a government priority, was also discussed, and will be included in the World Bank’s plans to allocate support and launch future projects in the education, health, employment, and social protection sectors.
The Minister and the Governor of the Central Bank of Iraq attended the ministerial meeting, chaired by the Managing Director of the International Monetary Fund, Kristalina Gurevich, and attended by finance ministers and governors of the IMF member countries.
Discussions at this meeting focused on the global economic situation, the growing uncertainty and its economic impacts at the local and global levels, addressing challenges, and measures to enhance resilience. They also focused on identifying strategies to maintain macroeconomic stability and manage debt sustainability. They also focused on exchanging insights and experiences regarding economic reforms, enhancing the performance of government institutions, and supporting and strengthening the private sector, opening the way for them to be at the forefront of sustaining the economic resilience of the countries of the region.
The Iraqi delegation’s agenda also included participation in a meeting with International Monetary Fund Managing Director Mohamed Maait, during which the focus was on specific reforms aimed at improving the performance of Iraq’s financial sector and sharing updates on areas of partnership with the Fund.
It is worth noting that these annual meetings bring together central bank governors, finance and development ministers, private sector executives, representatives of civil society organizations, and academics to discuss issues of global importance, including the global economic outlook, poverty eradication, economic development, and aid effectiveness.
The event features workshops, regional briefings, press conferences, and other events focusing on the global economy, international development, and the global financial system.
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