Sustainable Development in Iraq: IFC & NIC Discuss Financing

Dr. Haider Mohammed Makiyya, Chairman of Iraq's National Investment Commission (NIC), announced the commission's active role in sustainable development projects, particularly in reclaiming millions of dunams of agricultural land stretching from southern Iraq to Anbar.

According to an NIC statement, this initiative aims to foster partnerships with international organizations that can provide essential grants based on successful global models.

In a meeting with Bilal Al-Saghir, Resident Representative of the International Finance Corporation (IFC), and the Director of Public-Private Partnership Projects for the Middle East, Makiya outlined the challenges facing Iraq's agricultural sector, including desertification and drought, and emphasized the commission's goal of achieving sustainable food security. He noted that these efforts align with Iraq's climate investment strategy, which aims to introduce innovative agricultural projects.

During the discussion, Makiya presented ongoing projects related to renewable energy, including Iraq's first blue ammonia plant, which aims to reduce carbon emissions and enhance environmental sustainability. IFC representatives highlighted available financing opportunities, including links with donor funds to support Iraq's adoption of green technologies. They expressed commitment to nurturing Iraq's private sector and advancing a secure investment climate.