European Union (EU) Ambassador to Iraq Klemens Semtner said on Saturday that the EU fully supports Iraq’s plan to diversify its economy and strengthen the private sector.
Speaking to state media, Semtner explained that the EU has several programs operating in Iraq, but the main goal is to help the government move away from depending almost entirely on the public sector. He said the best way to do that is by building a stronger private sector and supporting small and medium-sized businesses so they can grow, create jobs, and generate steady income without relying on government employment.
Semtner noted that the EU provides around 300 million euros each year to Iraq. This support is given to different institutions, but a large part of it focuses on helping the private sector and encouraging investment in real, productive projects.
He also said the EU is working closely with the Central Bank of Iraq and other government bodies to fight money laundering. According to Semtner, studies and planning are underway to prepare a joint effort with the CBI and additional partners to strengthen Iraq’s defenses against financial crimes.
Semtner stressed that the EU is committed to helping Iraq build a healthier economy—one that depends on business growth, not just government jobs.
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