Iraq’s Al-Sudani to visit Mosul on Sunday for key projects: Source
Shafaq News/ Iraqi Prime Minister Mohammed Shia Al-Sudani is scheduled to visit Mosul in northern Iraq on Sunday, accompanied by a small delegation of ministers, a source in Nineveh province revealed on Saturday.
The source told Shafaq News that “the visit’s agenda includes the inauguration of several key projects, such as the al-Qayyarah power plant, as well as the groundbreaking for the Riverfront Project in the Old City of Mosul.”
Al-Sudani is also expected to meet with tribal leaders and prominent figures from Mosul.
Earlier, Nineveh Governor Abdul Qadir al-Dakhil announced PM's upcoming visit to Mosul to lay the foundation stone for the Riverfront Project, one of the key reconstruction initiatives for the old city.
The PM visited Nineveh twice in 2024, first in March and again in May. During his first visit, Al-Sudani launched several major service projects, including the new Al-Ghazlani residential city.
On January 21, 2024, Al-Sudani ordered the implementation of several projects in Nineveh, including the Riverfront Project and the Traffic Congestion Relief Project for Old Mosul.
would you look at that?
Article 77 of the three years budget Was about HCL .
And they are looking to strength relationship between Iraq and Kurdistan.
They are now on the same path together.
Because the rate about to change and Kurdistan will receive HCL.
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Iraqi Prime Minister Mohammed Shia al-Sudani met with Patriotic Union of Kurdistan (PUK) President Bafel Talabani to discuss the country’s overall situation, emphasizing the need for dialogue among Kurdosh political parties to accelerate the formation of the new Kurdistan Regional Government (KRG) cabinet and strengthen cooperation between the federal and regional governments in security, politics, and development - statement
: PM office
Renewing the Iraqi-Japanese partnership with $11 billion in loans for vital projects and development policy
12/21/2024
The United Nations Development Program and the Japan International Cooperation Agency (JICA) office in Iraq renewed their long-standing partnership to promote social and economic development in Iraq through funding from the Government of Japan and JICA.
This partnership, which has spanned more than fifteen years of cooperation with the Government of Iraq, reflects the strong commitment of the United Nations Development Programme and the Government of Japan/JICA to meet Iraq's need for basic services and an efficient, stable and reliable economic infrastructure, according to a JICA report seen by Shafaq News Agency.
He added that this partnership has contributed significantly to human and economic growth in Iraq, in line with Iraq's national development plans and programmes that focus on economic diversification, infrastructure modernisation and improving social services.
In support of reconstruction and development, Iraq has received 36 ODA loans from the Japanese government and the Japan International Cooperation Agency, totaling about US$11 billion. These loans include 34 loans for vital sector projects and two development policy loans.
This development assistance aims to support Iraq in achieving its sustainable development goals, with a focus on improving living conditions nationwide and restoring infrastructure to promote inclusive growth.
“JICA remains committed to addressing development challenges with the Government of Iraq through this impactful partnership with UNDP. This partnership provides comprehensive support to Iraqi officials to achieve international standards in project management, combining technical expertise, capacity development and development finance. All of this aims to improve livelihoods and promote sustainable development in the country,” said Hiroshi Suzuki, Chief Representative of JICA in Iraq. Under this renewed partnership agreement, and in line with the Iraq National Development Plan 2024-2028, UNDP continues to provide critical support to the Government of Iraq to facilitate the smooth implementation of key socio-economic projects financed by JICA ODA loans. This support includes coordination at senior level, fiduciary supervision, progress monitoring, technical assistance, knowledge sharing and capacity development. Furthermore, by enhancing transparency, accountability and adherence to international standards, the partnership ensures the successful implementation of these vital projects.
“This renewed partnership between UNDP and JICA highlights our shared commitment to supporting Iraq’s development goals, with a focus on infrastructure development, sustainable economic growth and human capital. Together, we aim to facilitate the successful implementation of vital projects that will not only rebuild Iraq’s infrastructure, but also enhance long-term socio-economic resilience and improve the lives of Iraqis across the country,” said UNDP Resident Representative in Iraq, Auke Lootsma.
This unique and renewed partnership underscores the benefits of effective trilateral cooperation in promoting prosperity, driving sustainable growth, and improving service delivery and infrastructure for a stable and prosperous Iraq. It also highlights the strong ownership by the Government of Iraq and serves as a model for impactful and sustainable partnerships that can contribute to long-term development in Iraq. LINK
The Iraqi Dinar (IQD) is the official currency of Iraq, serving as a critical component of the nation's economic infrastructure. For businesses, investors, and speculators alike, understanding the dynamics of the Dinar is essential for navigating Iraq's market.
The exchange rate of the Iraqi Dinar plays a pivotal role in shaping the country's trade and investment environment, influencing everything from the cost of imports and exports to the profitability of foreign investments.
Meanwhile, the currency has also garnered significant interest from speculators, who are drawn to the potential-however remote-of significant shifts in its value.
The Importance of the Exchange Rate for Trade and Investment
The exchange rate of the Iraqi Dinar is a key determinant of the country's economic competitiveness on the global stage. A stable and predictable exchange rate is vital for businesses engaged in international trade, as it impacts the cost of importing goods and services and the profitability of exporting to foreign markets. For foreign investors, the exchange rate is a crucial factor in determining the potential returns on investments in Iraq.
Fluctuations in the Dinar's value can significantly affect the cost of doing business, as well as the repatriation of profits. As such, understanding the factors that influence the Dinar's exchange rate-such as oil prices, political stability, and central bank policies-is essential for making informed business and investment decisions in Iraq.
Interest from Speculators
In recent years, the Iraqi Dinar has attracted attention from a specific group of financial actors: currency speculators. These individuals and entities buy and hold large amounts of Dinar in the hope that its value will appreciate dramatically, allowing them to sell it at a significant profit.
This speculative interest is often fuelled by rumours and theories about an imminent revaluation of the Dinar, despite the lack of credible evidence supporting such a scenario. Speculators are drawn to the high-risk, high-reward nature of currency trading, but it is important to note that such activities are highly speculative and carry substantial risks. LINK
