Baghdad:Oil Minister Bassem Mohammed Khudair al-Abadi has highlighted the crucial role of international financial institutions in bolstering Iraq’s economic development, particularly in the oil and gas sectors.

According to National Iraqi News Agency, the minister held a meeting with Katarina Bjorlin-Hansen, President of the European Bank for Reconstruction and Development (EBRD) in Iraq, to discuss joint cooperation aimed at enhancing economic development and supporting oil and gas sector projects.

The minister emphasized the significance of reputable and transparent financial institutions in facilitating investment expansion in these sectors. He remarked that the EBRD’s presence in Iraq offers a valuable opportunity to enhance cooperation in the support and financing of oil and gas initiatives.

Bassem Mohammed Khudair al-Abadi also expressed the ministry’s willingness to work with the EBRD to identify key projects that could benefit from the bank’s support.

Katarina Bjorlin-Hansen noted that the EBRD began its operations in Iraq approximately a year ago and is keen to expand its activities, aligning them with the development plans of government institutions. The meeting included the participation of the Ministry’s Advisor for Energy Affairs, Dr. Abdul Baqi Khalaf.