The International Finance Corporation (IFC) announced $1 billion in new investments in Iraq. The funds will strengthen energy, infrastructure, agribusiness, finance, and trade. The announcement came during IFC’s Partnerships Day in Baghdad, under the patronage of Iraq’s Prime Minister. The event marked 20 years of IFC impact and its long-term commitment to Iraq’s private sector.
Additionally, Prime Minister Mohammed Shia’ al-Sudani welcomed the agreements. He said Iraq is ready to embrace Arab and international partnerships. The Prime Minister added that the new investments will create jobs, boost economic growth, and strengthen the private sector. Since 2005, IFC has invested and mobilized over $2.5 billion in Iraq. These investments created more than 28,000 jobs, including 5,000 for women.
Therefore, IFC Investments emphasized promoting sustainable growth through strategic partnerships. Investments will target energy access, emissions reduction, infrastructure, manufacturing, housing, agriculture, healthcare, trade, and finance. IFC partnered with Basrah Gas Company to lead a $500 million investment. This project will capture flared gas, expand energy access, and cut emissions.
In infrastructure, IFC will invest $120 million with Aloreen Company in Umm Qasr port facilities. The funds will improve container handling and expand yard capacity. Manufacturing will gain a $200 million investment with Nomu Holding, focusing on construction materials, industrial modernization, decarbonization, and workforce training.
Moreover, housing and urban development will benefit from $65 million in Sulaymaniyah. The project supports sustainable mixed-use real estate, creates jobs, and addresses residential shortages. Agriculture and food security will advance through a study with Tiryaki Agro. The study focuses on modern sustainable farming and wheat production.
IFC also plans a feasibility study for a 200+ bed teaching hospital at the American University of Iraq in Baghdad. Trade and finance initiatives will expand with a $10 million line through Bank of Baghdad. Support for micro, small, and medium enterprises comes via First Finance Company.
Therefore, these investments highlight Iraq’s potential as a hub for sustainable private sector growth. Experts said the projects will attract international capital, reinforce stability, and boost long-term development.