Iraq’s Prime Minister Mohammed Shia’ Al-Sudani led a meeting focused on boosting funding for projects under the Industrial Bank Initiative. The session included the Minister of Finance, the Central Bank Governor, and several senior advisers. Together, they discussed how to activate financial support for key development projects that aim to strengthen Iraq’s economy.
Therefore, the Iraq Industrial Bank received new instructions to finance investment projects introduced at the Iraq Investment Forum in Baghdad. Al-Sudani described these ventures as vital for national growth and private sector expansion. He said the projects will enhance Iraq’s industrial base, attract investors, and create more local jobs.
Moreover, the meeting reviewed the progress of the Industrial Initiative, which forms a major part of Iraq’s economic development plan. Reports showed that state-owned banks have already increased their funding for approved projects. This improvement demonstrates growing confidence in Iraq’s economic transformation.
Al-Sudani urged government institutions to speed up loan approvals and clear pending applications. He called for stronger coordination between the Ministry of Finance, the Central Bank, and public banks. He also emphasized fair and transparent loan procedures that focus on projects with real economic value. These steps aim to improve domestic production and reduce Iraq’s dependence on imports.
Furthermore, the Iraq Industrial Bank will focus on financing high-priority industrial ventures that support local manufacturing. The Prime Minister highlighted that this initiative promotes innovation and builds a strong foundation for industrial development. He said successful execution of these projects would encourage more private investors to join Iraq’s industrial sector.
Officials also discussed how the Industrial Initiative supports long-term goals, including increasing exports and building public-private partnerships. The government plans to use this program as a tool to stimulate new factories and strengthen supply chains within Iraq. Al-Sudani noted that more entrepreneurs are now turning to industrial investment, which signals growing confidence in Iraq’s market.
In conclusion, with continuous government support, the Iraq Industrial Bank will play a central role in driving national economic progress. The initiative will not only empower local industries but also expand Iraq’s ability to compete in regional and international markets.