EU Ambassador: Efforts Underway to Bring European Investment Bank to Kurdistan Region

ERBIL (Kurdistan24) - The European Union has extended the mandate of its delegation in Iraq for another two years and is working to bring the European Investment Bank (EIB) to the Kurdistan Region and Iraq, EU Ambassador to Iraq Klemens Semtner told Kurdistan24 in an exclusive interview on Sunday.

Semtner said the EU has a strong history of supporting the Kurdistan Region, particularly during the war against ISIS and through assistance to displaced people and refugees.

He said the EU’s current focus is on working with the Kurdistan Regional Government and the Iraqi government to diversify the economy, strengthen the banking sector, combat corruption and provide vocational training for young people, with the aim of developing the private sector and supporting small and medium-sized businesses.

Semtner said Brussels has intensified efforts to enable the European Investment Bank to formally begin operations in Kurdistan Region and Iraq.

“We need to sign a framework agreement with the government to bring the bank, and we hope that agreement will be signed in the near future,” he said.

The ambassador also said the EU continues to provide military and security advice through teams of specialists to police forces and security institutions in the Kurdistan Region and Iraq, with the aim of reforming and strengthening their capabilities.

Addressing the impact of the war in Iran on the region, Semtner expressed concern that the Kurdistan Region has been among the areas heavily affected by the negative consequences of the military confrontation, despite not being a party to the war.

He also expressed his condolences to the families of victims in the region.

Semtner stressed that negotiations and diplomacy are the only solution to prevent the resumption of fighting and to safeguard the security of oil exports, which he described as Iraq’s main source of revenue for paying salaries and supporting economic recovery.