Tishwash: The Ministry of Finance is discussing with the World Bank the establishment of a permanent office in Iraq.
On Tuesday, May 20, 2025, Iraqi Finance Minister Taif Sami received a delegation from the European Bank for Reconstruction and Development to discuss joint cooperation, a number of economic and investment issues, and the establishment of a permanent office in Iraq.
The Ministry of Finance stated in a statement received by Al-Jabal that “the meeting focused on expanding the bank’s role in Iraq during the next phase, particularly in the areas of supporting the private sector, financing small and medium-sized enterprises, and providing technical assistance to government agencies, in line with the priorities of the government program to improve the business environment and develop infrastructure.”
According to the statement, the two sides discussed “the progress made in the negotiations on the Host Country Agreement, which aims to enable the Bank to establish a permanent office in Iraq, facilitate its mission of providing technical and advisory support, and expand its network of cooperation with local institutions.”
Potential areas of cooperation were also reviewed, including renewable energy, transportation, and modernizing the financial sector, which would contribute to attracting investments and stimulating economic growth. link
IWFG1818: Continuation of the National Emergency With Respect to the Stabilization of Iraq
************
Tishwash: Oil Minister: The Iraqi Oil Services Center will transfer well revenues to the state treasury.
Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani Al-Sawad, explained today, Tuesday (May 20, 2025), that the establishment of the Iraqi Center for Oil Services will transfer financial revenues from oil extraction and well drilling to the state treasury instead of going to foreign companies.
Al-Sawad said in a statement to Baghdad Today, “The well-drilling operations require a number of supporting operations that will be under the control of the center, which will save money for the state treasury.”
He pointed out that “the center has actually proceeded with updating specialized equipment in a number of oil companies, particularly the Basra Oil Company,” explaining that “Basra Oil Company purchased some equipment years ago, and after its arrival in Iraq, the selling companies refused to deliver the software to Iraq. However, the company preserved this equipment, and it has now been updated, and it will enter service as important equipment in the oil sector.”
Last Friday, the Oil Minister inaugurated the Iraqi Oil Services Center in Basra Governorate, a move he described as significant in achieving self-sufficiency in vital sectors. This move aligns with the government’s directives and decisions within the government program, as well as creating national partnerships with the private sector and relevant entities in the oil industry. link
************
Tishwash: PM Barzani, US Congressman discuss Erbil-Washington ties
On Wednesday, Kurdish Prime Minister Masrour Barzani discussed strengthening Kurdistan-US ties with Congressman Abe Hamadeh in Washington.
The meeting followed the signing of two energy agreements during Barzani’s visit, aimed at strengthening infrastructure and attracting foreign capital to the Kurdistan Region.
Energy remains a strategic sector for the Region, which continues to pursue independent development amid ongoing disputes with Baghdad over oil revenues and export authority.
Hamadeh, a US lawmaker of Kurdish descent, called the agreements a “positive development” for Iraq’s economy and stressed the importance of sustained engagement between Washington and Erbil.
Barzani then congratulated Hamadeh on his election to Congress, highlighting his support for Kurdish interests in US policymaking.
The Kurdistan Region has previously partnered with the United States in counterterrorism and regional stability initiatives. link
************
Tishwash: The Minister of Finance discusses with the Iraqi Economic Council mechanisms to enhance investment opportunities.
Minister of Finance Taif Sami Mohammed received the head of the Iraqi Economic Council and his accompanying delegation. During the meeting, they discussed prospects for cooperation between the two sides, focusing on enhancing investment opportunities and developing economic partnerships.
The Minister stressed, according to a statement by the ministry, the keenness to open effective channels of communication with economic entities and support initiatives aimed at stimulating the investment environment, providing job opportunities, and driving the wheel of development.
Meanwhile, the Iraqi Economic Council called on the Ministry of Finance to support the Economic Investment Conference scheduled to be held in early June, through coordination and providing the necessary facilities for the success of its work.
The two sides stressed the importance of the conference contributing to highlighting investment opportunities in various sectors and attracting capital.
The Council delegation also stressed the importance of the ministry’s participation in preparing workshops and discussions related to financial reform and developing the investment environment, as it is a pivotal body in formulating economic policies. link
