Prime Minister Mohammed Shia’ Al-Sudani led a meeting on Monday with the Board of the Iraq Development Fund to check on the progress of several major strategic and investment projects the fund is overseeing.
During the meeting, officials reviewed the “Eduba” schools project, which has already begun its first phase. They also went over a report from the Ministry of Finance about payment methods and the guarantees needed to keep the project moving. Al-Sudani instructed all the involved parties to hold a joint meeting soon to sort out the remaining financial and technical issues.
The Board also looked at the plan to establish two new companies — the Development Road Company and El Sewedy Electric from Egypt. Initial approval has been given, but the Board requested that all remaining legal and administrative steps be completed and the proposals brought back again for final approval.
Another topic of discussion was the governance standards for the fund’s sector-based holding companies and special-purpose vehicles. The meeting also reviewed the needs and requirements of the consulting firm that is working with the fund.
