Baghdad:Prime Minister Ali Falih Al-Zaidi directed a series of initiatives on Sunday aimed at stimulating the economy, financing projects, and releasing outstanding payments to contractors and farmers.

According to the Iraqi News Agency, the Prime Minister chaired a meeting attended by key financial figures, including the Minister of Finance, the Governor of the Central Bank of Iraq, and representatives from both state-owned and private banks. The meeting focused on discussing initiatives to enhance market activity, encourage economic growth, and strengthen the banking sector’s role in financing productive and investment activities.

The meeting resulted in several decisions, including directing IQD 1 trillion from the Central Bank of Iraq towards the real estate and housing sector. Additionally, liquidity for the Trade Bank of Iraq and the Industrial Bank will be increased by no less than IQD 1 trillion to finance industrial projects.

Moreover, the Ministry of Finance will allocate IQD 500 billion to settle contractors’ dues, enhancing liquidity for companies, and IQD 500 billion will also be provided to pay farmers’ dues, supporting the agricultural sector. The Future Generations Fund Initiative will be strengthened with an additional IQD 500 billion.

The Prime Minister emphasized the need for swift implementation of these decisions, ensuring they translate into tangible impacts on the market. The Central Bank of Iraq confirmed its readiness to support stable banking operations and foster an environment conducive to economic activity, aligning with the country’s monetary policy to promote development and stability.