World Bank commits $1bn to support Iraqi businesses

 

"Md. Ferdous Kibria, (Nayan) Publisher and Editor" :- 

The value of Arab and foreign investments has reached $100 billion, Iraq's prime minister Mohammed Al-Sudani said

 

Iraqi companies have secured more than $1 billion from the World Bank’s International Finance Corporation (IFC) to support projects across various industries.

 

The largest share of $500 million was allocated to the state-backed Basrah Gas Company for the development of associated gas and facilities at the Umm Qasr port, the prime minister’s office said in a statement.

Basrah Gas said the loan would finance a “major” project that will limit gas flaring and strengthen the Iraqi economy, Reuters reported.

Another $200 million was approved by the IFC to support the expansion of cemen