The Iraq Development Fund announced the signing of memorandums of understanding (MoUs) with five foreign countries — Japan, Germany, France, the United Kingdom, and the United States — marking a major step in boosting Iraq’s international economic cooperation and development initiatives.
According to the Fund’s Director, Mohammed Al-Najjar, the MoUs aim to enhance collaboration with global partners, attract foreign expertise, and channel investment into Iraq’s key development sectors. He explained that the agreements align with Iraq’s long-term vision to diversify its economy and reduce dependence on oil revenues by promoting modern infrastructure, sustainable development, and financial reform.
Al-Najjar stated that the MoU signed with the United Kingdom focuses on continuous institutional and technical support to improve documentation, monitoring, and transparency systems within the Fund. He noted that British support helped modernize Iraq’s documentation procedures, making them compatible with international operational standards and governance practices.
He also highlighted that the MoUs with the United States open the door to new opportunities for joint investment and economic partnerships. Al-Najjar revealed that preparations are underway to establish a joint Iraqi-American Investment Fund aimed at financing large-scale projects in infrastructure, renewable energy, and industry. “We are planning a visit to Washington soon to finalize this initiative and discuss strategic cooperation,” he added.
The MoUs signed with Japan, Germany, and France include frameworks for sharing expertise in green energy, technology, and education, as well as collaboration on sustainable development projects. These partnerships are expected to enhance Iraq’s access to global markets and strengthen its position in the international investment landscape.
Al-Najjar emphasized that the Iraq Development Fund remains central to the government’s reform strategy, which focuses on economic diversification, institutional modernization, and international cooperation. The new agreements, he said, demonstrate Iraq’s commitment to transparency, partnership, and sustainable progress.