Iraq faces a major investment challenge, requiring $233 billion to strengthen key sectors. Authorities and international experts highlight urgent needs in energy, infrastructure, and sustainable development. This investment aims to boost economic growth while addressing environmental concerns.
Bilal Al-Saghir, the International Finance Corporation’s resident representative in Iraq, said the study identifies priority sectors for investment. The goal is twofold: accelerate economic development and promote long-term sustainability. He emphasized that Iraq must diversify its economy beyond oil reliance.
The study estimates that $233 billion is needed across core sectors. Energy remains a top priority, with a focus on renewable sources such as solar and wind. Officials stress that sustainable alternatives can reduce dependence on conventional fuels while supporting economic resilience.
Experts note that structural reforms must accompany investment inflows. Strengthening governance, improving planning, and reducing bureaucratic hurdles are essential. These measures ensure that the $233 billion investment translates into tangible results for citizens.
The report highlights how environmental challenges intersect with economic priorities. Iraq faces resource management, pollution control, and energy sustainability issues. Targeted investment in green energy and infrastructure can address these challenges effectively.
Al-Saghir emphasized that timely capital allocation can support a transition to a diversified economy. By reducing reliance on oil revenues, Iraq can achieve long-term stability and attract further foreign investment. Sustainable development also benefits future generations by protecting natural resources.
In addition to energy, the study calls for investments in infrastructure, water management, and industrial modernization. These sectors form the backbone of Iraq’s growth and directly impact employment and living standards.
The $233 billion estimate reflects both the scale of Iraq’s ambitions and the complexity of achieving them. Authorities must coordinate between public and private sectors, and international partners are encouraged to support capital mobilization.
Overall, Iraq faces a strategic opportunity to transform its economy. Investments in core sectors can stimulate diversified growth, enhance sustainability, and strengthen resilience against global shocks. Experts urge immediate action to ensure the country meets its development goals.