Baghdad: Prime Minister Ali Falih al-Zaidi has launched a series of initiatives aimed at invigorating Iraq’s economy, financing projects, and settling unpaid dues to contractors and farmers.

According to National Iraqi News Agency, the Prime Minister held a meeting with key financial leaders, including the Finance Minister, the Governor of the Central Bank of Iraq, and representatives from state and private banks. The discussions centered on boosting economic activity by enhancing the banking sector’s role in investment and project financing.

Key decisions from the meeting included directing 1 trillion Iraqi dinars towards the real estate and housing sectors to stimulate related economic activities. Additionally, the Trade Bank of Iraq and the Industrial Bank will receive increased liquidity of at least 1 trillion dinars for industrial project financing.

The Ministry of Finance will allocate 500 billion dinars to settle contractors’ outstanding dues, facilitating project continuity. Similarly, 500 billion dinars are earmarked to pay farmers, supporting agricultural sector growth.

The Generations Fund initiative will see its funding increased by 500 billion dinars to bolster its project financing capacity. The Prime Minister emphasized the need for swift implementation of these measures to impact the market positively.

The Central Bank of Iraq reiterated its commitment to maintaining a stable banking sector and fostering economic activity through its monetary policy framework, supporting Iraq’s development and financial stability.