Baghdad: The Asian Development Bank (ADB) has confirmed its commitment to support and finance key infrastructure projects in Iraq, following discussions with Iraq’s Ministry of Finance (MOF). This commitment comes as part of Iraq’s efforts to strengthen ties with international financial institutions and benefit from their expertise in driving development.

According to Iraqi News Agency, Finance Minister Faleh Sari met with a delegation from the Asian Infrastructure Investment Bank (AIIB), led by Konstantin Lemitovsky, to explore potential collaborations in infrastructure financing and development. The meeting, which included senior officials such as the Undersecretary of the Ministry and directors from the Iraqi Fund for External Development and the Public Debt Department, focused on financing initiatives in sectors like transport, energy, water, and digital infrastructure.

Minister Sari highlighted the necessity of enhancing cooperation with global financial bodies to leverage their expertise in supporting Iraq’s infrastructure development. He emphasized that any proposed projects for financing are thoroughly evaluated to ensure they align with Iraq’s economic feasibility and financing efficiency, while prioritizing the national interest and maintaining financial stability.

The ADB delegation expressed its readiness to finance Iraq’s priority projects, particularly those strategic in nature, such as the Development Road project. This initiative is expected to significantly contribute to Iraq’s economic growth and development objectives.