Iraq’s Economic Center

Canadian loans and aid to Iraq amounting to $ 600 million

The Canadian Chargé d’affaires in Iraq, Andrew Turner, has announced his country’s government to provide Iraq with a $ 200 million loan and $ 400 million in humanitarian aid as part of efforts to stabilize the country.

Turner, on the sidelines of his meeting with the head of Najaf Chamber of Commerce during his visit to the province, said in a press statement that his government supports Iraq through long-term assistance aimed at developing the work of local governments and strengthening the decentralized system of state administration. The other side of support is short-term assistance To support the displaced and to provide them with food and health, as well as to participate in the clearance of mines and remnants of war.

He noted that the Canadian government intends to open an office in Baghdad to grant visa and commercial representation, because Iraq has many opportunities to attract companies and investors through the factors of religious diversity and cultural similar to Canadian society.

Turner called on the Iraqi government to facilitate the registration of international companies to help accelerate the development process, noting that the Canadian government supported Iraq in the amount of 180 million dollars within the Canadian strategic initiative to support Iraq, which began in 2016 to help develop humanitarian projects and support the displaced and empower women, Health and the political aspect. This initiative will continue until 2019, while a second initiative for the next phase will be considered after the evaluation of the previous initiative and its results.

For his part, the head of the Najaf Chamber of Commerce, Zuhair Sharba, said that Iraq has begun the stage of reconstruction and development after the elimination of the organization “Daash”, which needs to rebuild the infrastructure through the investment of wealth and accumulated experience and manpower, as well as cooperation with international companies Including Canadian companies.

He added that there is a serious desire by Iraqi commercial companies to cooperate with Canadian companies in the next stage, because they possess the technology and international expertise that contribute to accelerate the process of reconstruction and development in Iraq, stressing that the province of Najaf has attractive factors for investment is a tourist religious and archaeological city includes many monasteries and churches Archeological sites dating back to pre-Islamic times. On the industrial side, they possess raw materials that enter the various construction industries.

Sherba confirmed that Najaf Chamber of Commerce is ready to cooperate with Canadian companies through the provision of facilities and advisory services to help enter the Iraqi market.