IFC, KRG Investment Board sign cooperation agreement
This agreement aims to implement a four-year project that will increase private sector investment in the Kurdistan Region, particularly in the sectors of agriculture, industry, and renewable energy.
ERBIL (Kurdistan 24) – Kurdistan Region Prime Minister Masrour Barzani on Wednesday received a delegation of the International Finance Corporation (IFC) led by IFC Regional Director for the Middle East, Pakistan, and Afghanistan Khawaja Aftab Ahmed, according to a readout from the Kurdistan Regional Government (KRG).
At the meeting, both sides discussed the development and implementation of joint initiatives.
Afterwards, the IFC and the KRG Investment Board signed a cooperation agreement under PM Barzani's supervision.
This agreement aims to implement a four-year project that will increase private sector investment in the Kurdistan Region, particularly in the sectors of agriculture, industry, and renewable energy.
Our deal with @IFC_org today will help remove barriers to investment and unlock $1 billion in private investment in agriculture, manufacturing, and economic zones.
— Masrour Barzani (@masrourbarzani) September 13, 2023
All are crucial to our diversification promise. pic.twitter.com/WjaI00oCYe
The IFC is a global development finance institution that invests in private sector projects to reduce poverty and promote economic growth. It is part of the World Bank Group and is headquartered in Washington, D.C. It provides financial products and advisory services to businesses and governments.
The KRG has entered into agreements with a number of international financial organizations, including the World Bank, the International Monetary Fund, the European Bank for Reconstruction and Development, and the Islamic Development Bank. These agreements provide access to funding, technical assistance, and project implementation support for economic and social development in the Kurdistan Region.
