The International Finance Corporation (IFC), a member of the World Bank Group, held an IFC Partnerships Day in Baghdad, under the patronage of His Excellency Mr. Mohammed Shia' al-Sudani, Prime Minister of Iraq, to mark two decades of impact in the country and announce $1 billion in new investments and engagements in energy, infrastructure, agribusiness, and finance, underscoring IFC's long-term commitment to the country's private sector.
“We congratulate Iraq and the Iraqis for signing these important agreements today with IFC, one of the most important and prestigious institutions in the financial advisory and investment space. Iraq is ready to embrace Arab and foreign partnerships like these ones,” said HE Mohammed Shia' al-Sudani, Prime Minister of the Republic of Iraq.
Since 2005, IFC has invested and mobilized more than $2.5 billion for projects in Iraq. These investments have created over 28,000 jobs-including 5,000 for women-by strengthening infrastructure, expanding access to finance, supporting manufacturing, and enhancing food security.
During the same period, IFC has backed Iraq's economic diversification through landmark transport and energy projects. IFC has also helped advance sustainable finance in partnership with the Central Bank of Iraq (CBI), the Iraq Stock Exchange, local banks, and finance institutions, supporting small and medium enterprises. In addition, IFC is currently serving as lead advisor on Iraq's first airport PPP, paving the way to the modernization of the nation's gateway.
The event, which was attended by HE Prime Minister Mohammed Shia' al-Sudani alongside senior government officials, private sector leaders, and development partners, included the launch of several new partnerships which will tap into the resilience of Iraq's private sector and foster sustainable growth. "Iraq's private sector is agile, resilient, and capable of driving sustainable growth," said K. Aftab Ahmed, IFC Director for the Middie East, Pakistan and Afghanistan.
"Over the past twenty years, IFC has stepped up to support the country, bringing not only its financing and global expertise but also mobilizing international capital to realize local priorities. Today, we mark a new chapter in our partnership, aiming to support strategic sectors that align with Iraq's Vision 2030."
