Arab, Foreign nations explore collaborations with Iraq development fund

Muhammad Al-Najjar, CEO of the Iraq Development Fund, disclosed on Monday ongoing negotiations with various Arab and foreign nations eager to establish partnerships with the Iraq Development Fund.

Al-Najjar revealed that talks are currently underway with countries including Saudi Arabia, Qatar, the UAE, and Italy, aiming to initiate crucial projects within Iraq through the Iraq Development Fund.

Speaking to the Iraqi News Agency (INA), Al-Najjar also highlighted ongoing discussions related to potential investments from Japan. Additionally, he shared insights into negotiations with six or seven sovereign development funds globally, emphasizing collaborative efforts to implement projects across the six sectors encompassed by the Iraq Development Fund.

The Iraq Development Fund, comprising the Environment Fund, Digital Transformation Fund, Housing Fund, Industry Fund, Agriculture Fund, and Education Fund, is poised to play a pivotal role in activating the private sector’s involvement in strategic and development projects—a shift that marks a departure from previous practices, as explained by Al-Najjar in earlier statements.