Meeting with the Regional Director of the International Financing Corporation (IFC) of the World Bank Group on Wednesday February 14th 2024 At IBC Offices
On Wednesday 14th 2024 the Regional Director of the International Finance Corporation (IFC) of the World Bank Group, Mr. Khawaja Aftab, met with IBC Chairman, Dr. Majid Sadi, IBC Deputy Chairman and Secretary-General, Dr. Saad Naji, IBC Board member, Engineer Mekki A-Faiz and IBC Director General, in the presence of the Jordanian Official at the Institution, Mrs. Dima Al-Hayyari, at IBC offices.
During the meeting, Dr. Sadi welcomed the guests and reviewed several strategic projects that can be implemented in Iraq with funding of the International Financing Corporation, especially in the transportation sector, and expressed readiness of the Iraqi Business Council to cooperate with the Finance Corporation to develop the role of the private sector and enhance partnerships with the public sector.
For his part, Mr. Khawaja Aftab talked about the Rehabilitation of Baghdad international Airport Project and the agreement concluded by the International Finance Corporation with the Iraqi government, which stipulates the provision of an integrated investment portfolio that includes the manner in which the Airport is expanded, financed, operated and maintained.
The agreement further includes raising the efficiency of the Airport, its facilities, and its safety factors to comply with the world international standards for airports. Mr. Aftab answered the query raised by Dr. Saad Naji on the time required by the Finance Corporation to make the decision to finance the investment projects, saying that the Corporation has developed a new system, in which the work period does not take more than 60 days after providing the Corporation with all documents required by the investor. It was also agreed to hold an Economic Symposium for the International Financing Corporation, sponsored and organized by IBC, for the investors interested in working with the Corporation on investment projects in Iraq.
