Mr. Ali Mohsen Al-Alaq, the Governor of the Central Bank of Iraq, met with a delegation from the International Finance Corporation (IFC) of the World Bank Group.
During the meeting, they discussed bilateral cooperation in the banking sector and its development with global technologies. They also presented the latest developments of strategic projects implemented by the Central Bank in partnership with the International Finance Corporation (IFC).
The two parties discussed a sustainable financing project. The project aims to achieve sustainable development by offering banking products and services, considering environment, society and governance (ESG) elements, and promoting sustainable benefit for all parties involved.
It is worth noting that Iraq is the second Arab country to establish this project. The Central Bank was praised by the International Finance Corporation for its efforts in making a significant impact on the Iraqi banking sector, contributing to preserving the environment and supporting sustainable growth and societal safety.
His Excellency the Governor reviewed an initiative to establish a green bank that the Central Bank is working to implement. The delegation expressed its willingness to cooperate in exchanging experiences and training to establish the bank in line with the efforts of the Foundation and the Central Bank in supporting the private sector and small projects. The delegation pointed out the Central Bank’s openness to all international financial and banking institutions in supporting the Iraqi monetary policy.