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Goggles

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Posts posted by Goggles

  1. 13 hours ago, Mary B said:

    Iraq's accession to the European Bank for Reconstruction and Development

    Economy | 12:13 - 03/20/2024

     
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    Mawazine News - Baghdad

    The Iraqi Fund for External Development in the Ministry of Finance announced on Wednesday that the Republic of Iraq has joined the membership of the European Bank for Reconstruction and Development (EBRD) after the House of Representatives approved the accession law.
    The Finance Ministry said in a statement, received by Mawazine News, that this comes within the Ministry’s vision to strengthen cooperation and communication frameworks between Iraq and international financial institutions, and after the Fund’s continuous coordination with the management of the European Bank, the completion of Iraq’s contribution process, and the completion of all documents related to accession.
    The Fund confirmed, according to the Finance Statement, that accession will enable the European Bank to finance projects within the country, promote development of various sectors, support system" rel="">support the entrepreneurship initiative, and support system" rel="">support the private sector through investments and participation in policy dialogue and technical assistance.
    The statement indicated that the European Bank for Reconstruction and Development (EBRD) is a multilateral development bank headquartered in London, and focuses on investment as a tool to rebuild market economies in beneficiary countries, with an emphasis on supporting the private sector and its investments in advisory and political activities.
    According to the Iraqi Finance Ministry, this bank helps countries develop their policies to promote self-sufficiency in energy or renewable energy markets.

    https://www.mawazin.net/Details.aspx?jimare=244232


    Hopefully this new law really helps cut through all or most of the red tape that has been suffocating the private sector from moving forward freely. This would awesome! 

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  2. This is the article...

     

     

    Iraq broke ground Wednesday on a $2 billion project to build a residential city outside of Baghdad, with two Chinese firms starting construction on 30,000 housing units.

     

    The project is part of plan to construct five cities across Iraq. Four more are expected to be awarded soon and another 10 will be announced next year. Contracts were awarded to East China Engineering Science and Technology Co., Ltd. and China National Chemical Engineering Co., Ltd along with their Iraqi partner Shams Al-Binaa. Other new cities to be constructed are in Kerbala, Anbar, Nineveh and Babel provinces.

     

    This will be interesting to see how long these products last... just saying. I'm no expert... but I have bought things made in China before. 

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