Prime Minister Mohammed Shia’ Al-Sudani led an important meeting to accelerate financing for projects under Iraq’s Industrial Initiative. The gathering brought together officials from the Ministry of Finance, the Central Bank of Iraq, and several government banks. They reviewed the progress of current projects and explored new ways to expand financial support across the industrial sector.
To begin with, the government continues to treat the Industrial Initiative as a core part of its economic growth strategy. Moreover, detailed reports showed a rise in funded projects and a stronger performance by public banks. Therefore, the Prime Minister urged Iraq Industrial Bank to take the lead in supporting new investments from the Iraq Investment Forum.
Additionally, Al-Sudani emphasized the importance of coordination among all financial institutions. He encouraged the Ministry of Finance and the Central Bank to work more closely to streamline loan procedures. Furthermore, he demanded simpler and faster approval processes to help investors start their projects without delays.
As a result, the bank will now focus its financing on strategic ventures that can strengthen the country’s industrial base. These projects aim to expand domestic production, create more jobs, and boost exports. In addition, Al-Sudani highlighted that every funded initiative should directly support economic diversification and long-term sustainability.
Equally important, the Industrial Initiative has attracted many entrepreneurs who want to launch new factories and production lines. Consequently, this growing interest shows rising confidence in Iraq’s business climate. Al-Sudani noted that banks must respond quickly to this momentum by providing timely and fair access to credit.
Furthermore, it will cooperate with other financial institutions to finance small and medium-sized enterprises. This cooperation will not only enhance competition but also promote innovation and reduce the nation’s dependence on imports. Ultimately, these efforts aim to strengthen local industries and improve living standards across Iraq.
In conclusion, the Industrial Initiative represents a turning point for Iraq’s economic transformation. With continuous support from Iraq Industrial Bank and other government institutions, the country can build a stronger, more self-reliant industrial sector.
