The Central Bank of Iraq’s governor, Ali Mohsen Al-Alaq, used remarks at the Iraq Energy Conference 2025 to highlight the Bank’s project-finance support, including renewables, and to flag an imminent, Council of Ministers-backed initiative to expand financing for industrial projects. The Central Bank’s interventions include direct and indirect support for renewable energy projects through various initiatives, alongside a broader focus on monetary and financial stability as a pillar of economic stability. The planned industrial initiative will strengthen cooperation among government banks with financial surpluses to finance industrial projects through the Industrial Bank, in cooperation with TBI Bank, with the stated aim of increasing the industrial sector’s contribution to Iraq’s overall economy. The initiative was described as close to launch.
Central Bank of Iraq 2025-01-28
Central Bank of Iraq outlines imminent industrial project financing initiative with Industrial Bank and TBI Bank
The Central Bank of Iraq's governor, Ali Mohsen Al-Alaq, announced at the Iraq Energy Conference 2025 a forthcoming initiative, backed by the Council of Ministers, to expand financing for industrial projects, including renewables, through cooperation among government banks and the Industrial Bank. This initiative aims to enhance the industrial sector's contribution to Iraq's economy.