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Iraq officially joins the Asian Investment Bank


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Economy News - Baghdad

The Iraqi embassy in Beijing announced, on Tuesday, that Iraq submitted a letter to its joining the Asian Infrastructure Investment Bank, while noting that Iraq is in dire need of infrastructure reconstruction projects, especially in the field of electric power.

The embassy said in a statement seen by "Economy News", that "the ambassador of the Republic of Iraq in Beijing, Shorsh Khaled Saeed, met with the Vice President of the Asian Investment Bank for Infrastructure, who is specialized in the affairs of joining the new members, Ludger Schocknecht," noting that "an explanation was provided about the steps that will be taken after The document and letter of Iraq's accession to the Bank were delivered.

And she added, "Iraq's request will be referred to the Board of Directors during the next week to vote and approve it, and then Iraq's request will be presented to the Board of Governors to vote and approve Iraq's accession, which will take about twenty days," expressing his hope "that this will be completed." Procedures by the end of this year, so that Iraq will be declared a visible member, and thus Iraq will become a full member.

For his part, the Iraqi ambassador affirmed, "Iraq's keenness and seriousness to join the Bank," noting that "Iraq is in dire need of infrastructure reconstruction projects, especially in the field of electric power, due to the damage to its infrastructure as a result of previous wars and terrorist attacks against some regions of Iraq." ".

It is worth noting that the bank, which is headquartered in the Chinese capital, Beijing, has provided dozens of loans to its members from countries with the aim of establishing infrastructure projects.

 
 
Views 107   Date Added 11/16/2021
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Economy News - Baghdad

On Tuesday, the Asian Infrastructure Investment Bank approved Iraq's formal accession to it.

And the Iraqi ambassador to China, Shorsh Khaled Saeed, said, in a statement seen by "Al-Iqtisad News", that "the Iraqi embassy in Beijing received a letter from the Vice President of the Asian Investment Bank for Infrastructure Ludger Schocknecht, which included obtaining the approval of the Bank's Board of Governors on Iraq's request to join the investment bank." Asian Infrastructure.

He added that "the bank, which is headquartered in the Chinese capital, Beijing, provided dozens of loans to its members from countries inside and outside Asia with the aim of establishing infrastructure projects," noting that "the number of countries acceding to it from all countries of the world reached 104."

 
 
Views 210   Date added 12/28/2021
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Tuesday, December 28, 2021 8:39 AM

Baghdad/National News Center

The Asian Infrastructure Investment Bank agreed to Iraq's formal accession to it.

Today, Tuesday, the Iraqi ambassador to China, Shorsh Khaled Saeed, said in a statement received by the “National News Center”, that “the Iraqi embassy in Beijing received a letter from the Vice President of the Asian Investment Bank for Infrastructure Ludger Schuknecht, which included obtaining the approval of the Bank’s Board of Governors on Iraq’s request to join. to the Asian Infrastructure Investment Bank.

He added that "the bank, which is headquartered in the Chinese capital, Beijing, provided dozens of loans to its members from countries inside and outside Asia with the aim of establishing infrastructure projects," noting that "the number of countries joining it from all countries of the world reached 104."

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I purchased my first dinars in 2004 and have been on multiple sites daily reading and keeping up on the current news. I think we are finally getting close. I don’t think they will be ready January 1st, but I do think we will see something during the first quarter of 2022. Like everyone else, I hope they come out high, but who knows…

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Posted 1 day ago
UTV - Basra

After his request was officially approved, Iraq recently joined the Asian Investment Bank, based in the Chinese capital, Beijing, to become the fifty-first regional member of the bank.

The Bank provided loans to about 100 countries affiliated with the Belt and Road Initiative to finance infrastructure projects, while the Ports Company confirms that Iraq is a pivotal country in this initiative; Because it is part of the Silk Road to transport goods through the dry canal from the port of Faw.

Anmar al-Safi, a spokesman for the Iraqi Ports Company, told UTV that “the belt or the Silk Road is very important because it transports goods from China and East Asia towards Europe and all countries of the world, and therefore Iraq must be one of the countries belonging to this belt, and everyone knows that Iraq is a pivotal country in The Silk Road as a link between the regions of East Asia.

In return for this proposition, researchers at the Basra and Gulf Studies Center are calling for Iraq to be careful about joining the Belt and Road Initiative, which is popularly promoted by the Silk Road, stressing the need to conduct an economic feasibility study before falling into the trap of Chinese debt.

Dr. said. Qais Nasser, a researcher at the Center for Gulf Studies, told UTV that "Iraq is moving towards joining the Silk Road, but the concerned authorities must first study the feasibility of this issue and see the experiences of other countries in this regard."

Despite this, Iraq has taken steps to join the belt and road countries, by signing recently with an Italian company to design a network of railways linking southern and northern Iraq, all the way to Europe via Turkey to revive the historic Silk Road.

Dr. said. Hussein al-Yasiri, who specializes in geography and economics, told UTV that “When China thought about reviving the Silk Road, it thought that it would consist of two lanes. Fastest, easiest and least expensive.

There is a belief in the street that the Silk Road will open the door for reconstruction to the cities of Iraq, through which the international trade lines pass.

This belief prompted political and popular parties to demand the termination of the contract of the South Korean company “Daewoo” executing the Grand Port of Faw, the important part of the Silk Road, and referring his project and other projects to Chinese companies.

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“The belt or the Silk Road is very important because it transports goods from China and East Asia towards Europe and all countries of the world, and therefore Iraq must be one of the countries belonging to this belt, and everyone knows that Iraq is a pivotal country in The Silk Road as a link between the regions of East Asia.”

 

Just imagen the amount of investment and trade the Silk Road

will bring to Iraq.

 

Go Iraq 

Go investment 

Go development 

Go Silk Road

Go trade imports/exports 

Go Stronger Dinar

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On Wednesday, Iraq announced that Iraq had officially joined the Asian Infrastructure Investment Bank.

The Iraqi embassy in China said that
"Iraq has officially joined the Asian Infrastructure Investment Bank," noting that "the Iraqi ambassador in Beijing, Shorsh Khaled Saeed, from the President of the Asian Investment Bank for Infrastructure John Lequin, a certificate of membership for Iraq's accession to the bank."

And she added, "Iraq has become the 92nd member out of 140 countries in the bank."

It is noteworthy that the Asian Infrastructure Investment Bank agreed to Iraq's formal accession to it late last year.

It is hoped that the Asian Infrastructure Investment Bank will provide soft loans to build infrastructure for member states, including Iraq.

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