KTFA:

Clare:  Prime Minister: We are working to support investments that aim to diversify the economy away from oil

9/22/2024

Prime Minister Mohammed Shia Al-Sudani said that we are working to support investments that aim to diversify the economy away from oil, while focusing on the role of the private sector in providing job opportunities.

The Prime Minister stressed in his speech at the Future Summit on Confronting Future Challenges, which is being held on the sidelines of the 79th session of the United Nations General Assembly in New York: The need to give Iraq priority in climate financing as it is one of the most affected countries, and we have begun implementing our commitments stipulated in the National Contributions Document.

The Prime Minister also stressed the keenness to provide incentives to the private sector and invest in renewable energy projects, which reduces our dependence on fossil fuels and contributes to a more sustainable future.    LINK

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Clare:  Prime Minister meets Kenyan President in New York

9/22/2024  Baghdad

Prime Minister Mohammed Shia Al-Sudani stressed the need to enhance mutual diplomatic representation between Iraq and Kenya.

The Prime Minister's media office stated in a statement received by Mawazine News that "Prime Minister Mohammed Shia Al-Sudani received at his residence in New York, today, Sunday, the President of the Republic of Kenya, William Ruto, on the sidelines of his participation in the 79th session of the United Nations General Assembly.

 During the meeting, they discussed bilateral relations between the two countries, supporting their frameworks in many fields, ways to consolidate joint cooperation, and everything that would enhance the interests of their peoples. The two sides also discussed the file of Kenyan workers in Iraq."

The Prime Minister referred to "the foundations of the relationship between Iraq and Kenya, which date back decades," stressing "the need to enhance mutual diplomatic representation and develop the level of fruitful economic partnership."

For his part, the Kenyan President praised "Iraq's pivotal role in the region and its efforts to enhance security and stability in it. He also expressed his country's desire to build the best relations between the two friendly countries in the economic and trade fields."

At the end of the meeting, the two sides exchanged official invitations to visit both countries, in order to develop bilateral relations at various levels and fields.  LINK

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Clare: International Praise for the Central Bank of Iraq: A Model for Developing Strategies that Serve the Development of the Banking Sector 

9/23/2024  Baghdad

The Regional Director for the Kingdom of Saudi Arabia, Lebanon and Iraq at the International Finance Corporation (IFC), Fawaz Al-Balbeisi, confirmed today, Monday, that Iraq is one of the first countries to adopt a comprehensive approach to governance and environmental and social accountability, noting that the Central Bank of Iraq is a model for developing strategies that serve the development of the banking sector. 

Al-Balbeisi said in a speech during the launch ceremony of the Financial Sustainability Map Project and the Environmental, Social and Corporate Governance Guide for Banks, that “Iraq has provided humanity with justice and law, and it is not surprising that it is one of the first countries to adopt a comprehensive approach to environmental and social governance and accountability,” indicating that “this new achievement comes as a result of the strategic partnership between the International Finance Corporation and the Central Bank of Iraq in cooperation with the Kingdom of the Netherlands and our joint efforts to develop an advanced Iraqi banking sector that contributes to Iraq’s sustainable future.”

He added that “the achievements that we celebrate today are a very important step for the Iraqi banking sector towards establishing sound practices of environmental, social and corporate governance standards that are consistent with international standards and rules, where they are not just a reference framework for celebration, but rather a systematic approach achieved by the banking sector,” noting that “environmental and governance standards have changed the environment and governance of the institution, and are a standard for professional excellence and have become a basic requirement for managing and reducing risks and thus financial sustainability and business prosperity.”

He continued: "Today, this event gains great importance in light of Iraq's confrontation with the challenges led by climate change, which requires approximately $233 billion until 2040 to respond to the development gaps necessary to move towards sustainable economic paths."

He continued, "Environmental, social and corporate governance responsibility is not only a statement of transparency, accountability and fairness, but also essential components of responsible investment strategies committed to sustainable practices and ethical standards in all financing and investment decisions. The Iraqi banking sector represents the provision of the necessary financing to meet its nationally defined goals in Iraq, and all of this highlights the importance of the role of the Central Bank, led by Ali Al-Alaq, in achieving this goal."

He pointed out that "with the development of the banking, financial and operational sector's capabilities over the past years, this achievement is complementary to other initiatives led by the Central Bank, the latest of which was the launch of the national strategy last May."

He pointed out that "the Central Bank is a model in developing strategies that serve the development of the banking sector in a way that reflects positively on the external view of the banking system and makes it a tributary that enhances sustainable development in Iraq," expressing his "thanks to the government of the Kingdom of the Netherlands for their support in reaching this achievement and to the Central Bank team and the International Finance Corporation whose tireless work enabled us to reach this achievement."  LINK

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Clare: Prime Minister invites Secretary-General of Digital Cooperation Organization to visit Iraq

9/22/2024  Baghdad - WAA

Prime Minister Mohammed Shia Al-Sudani extended an invitation to the Secretary-General of the Digital Cooperation Organization, Dima Al-Yahya, to visit Iraq.

The Prime Minister's Media Office stated in a statement received by the Iraqi News Agency (INA), that "Prime Minister Mohammed Shia Al-Sudani received yesterday evening, Sunday, Baghdad time, the Secretary-General of the Digital Cooperation Organization, Dima Al-Yahya, on the sidelines of his participation in New York in the 79th session of the United Nations General Assembly."

At the beginning of the meeting, the Prime Minister expressed his "thanks for Dima Al-Yahya's serious efforts and interest in Iraq's accession to the organization, which represents a personal interest for him, with what the organization can provide in terms of expertise, skills, training, and codification of laws and rules for all digital businesses, most notably digital trade and how to activate and benefit from it." 

The Prime Minister stated that "a higher committee for digital transformation in Iraq has been formed, headed by the Prime Minister, and the committee will develop a comprehensive strategy for digital businesses and artificial intelligence, in line with Iraq's ambitions and international requirements in the field of digital transformation, extending an official invitation to Al-Yahya to visit Iraq."
For her part, Al-Yahya welcomed "Iraq's approval to join the Digital Cooperation Organization, as there are multiple action plans and programs that will soon see the light in Iraq after it signs the organization's charter, and she stressed that Iraq will be one of the countries that benefit from the transfer of skills and training."  LINK

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Clare:  Prime Minister: Committed to supporting multilateralism in addressing global challenges

9/22/2024  Baghdad

Prime Minister Mohammed Shia Al-Sudani affirmed, on Sunday, the commitment to work with the international community to find common solutions and cooperate in building a better and more sustainable future for all, while calling for strengthening international cooperation in the fields of land, maritime, cyber, and outer space security, in order to ensure comprehensive security.

The Prime Minister's Media Office stated in a statement, which was reviewed by "Al-Eqtisad News", that the Prime Minister participated in the Future Summit held in New York on the sidelines of the 79th session of the United Nations General Assembly.

He pointed out that "the summit aims to enhance cooperation on key challenges, bridge gaps in global governance, reaffirm existing commitments to the Sustainable Development Goals (Global Goals) and the United Nations Charter, and lay the foundations for more effective global cooperation that can deal with today's challenges and any new threats that may arise in the future."

He explained that "the Prime Minister delivered Iraq's speech at the summit, during which he stressed the pursuit of serious steps towards achieving sustainable development and effectively responding to the goals of the National Development Plan (2024-2028), by adopting comprehensive strategic reforms." 

The following are the most prominent points made in the Prime Minister's speech at the Future Summit:

• We are working to enhance economic reform and improve the conditions of the most vulnerable groups.

• We have adopted a strategy that advances vulnerable groups in terms of social justice, and builds human resource capacities through developing education and health, and caring for youth and women.

• Committed to establishing the concepts of climate justice, especially in combating drought and desertification and ensuring the sustainability of water resources and food security.

• Confronting climate challenges requires effective international cooperation within the framework of the United Nations Framework Convention and the Paris Agreement.

• We stress the need to give Iraq priority in climate finance, as it is one of the most affected countries, and we have begun implementing our commitments set forth in the National Contributions Document.

• We support investments aimed at diversifying the economy away from oil, with a focus on the role of the private sector in providing job opportunities.

• Sustainable development requires ambitious investments, and we are keen to provide incentives to the private sector and invest in renewable energy projects.

• We strengthen our international relations on the basis of mutual respect and common interests, and commitment to the principle of not allowing our territories to be used to attack other countries.

• We support all efforts to promote human rights and involve civil society organizations in achieving development goals.

• Achieving peace requires a joint international effort, and diplomacy and dialogue are key to achieving stability.

• We call for strengthening international cooperation in the areas of land, maritime, cyber, and outer space security, to ensure comprehensive security.

• Science and technology are the basis of sustainable development, and we are working to transition to a digital economy and provide an integrated database to support decision-making.

• We seek to enhance international cooperation in the field of technology transfer and capacity building, while supporting Iraqi inventors in every forum.

• We encourage scientific research in clean oil and gas technologies, and work to enhance technical education to provide young people with the skills required for the modern labor market.

• Enhancing international cooperation is essential to ensure that countries have access to the necessary tools and capabilities to benefit from artificial intelligence in a responsible and ethical manner.

• We emphasize the importance of adopting clear strategies for using artificial intelligence safely and responsibly to serve humanity.

• We seek to provide a supportive environment for youth by holding workshops to enhance their role in development.

• We are keen to provide advanced educational opportunities and training programs, and cooperate with the United Nations to develop indicators to measure youth development.

• We call for reforming international institutions to enhance their representation and ability to address global challenges.

• We are committed to public sector governance, combating corruption, removing obstacles to private sector growth, and focusing on accelerating digital transformation and activating laws to hold violators accountable.

• Iraq is committed to working with the international community to find common solutions, and our cooperation will contribute to building a better and more sustainable future for all.

• We stress the need to end the ongoing aggression on Gaza and Lebanon, and work to establish security and stability in the region and the world.  LINK