- Iraq’s Central Bank supports renewable energy expansion in the country.
- The bank has donated IQD 1 trillion for green energy projects.
According to a report by the Iraqi News Agency, Iraq’s Central Bank has donated IQD 1 trillion (USD 682.2m) to support the acceleration of renewable energy. This announcement was made known by the bank’s deputy governor, Ihsan Al-Yasiri.
At a renewable energy forum, Al-Yasiri noted that the Bank has been cooperating with the Ministry of Environment to support investments in renewable energy and a green economy in Iraq, adding that work has begun on creating a committee for renewable energy. Al-Yasiri also said that the loans to be extended as part of the programme would have only administrative fees.
According to a report by Renewables Now, the initiative was unveiled in a statement by the Association of Iraqi Banks, released after the forum and seen by the news agency. In addition to Al-Yasiri, the event was attended by environment minister Jassim Al-Falahi, the Investment Authority’s head Suha Al-Najjar and other government officials.
On her part, Al-Najjar voiced the Investment Authority’s support for clean energy projects and noted that the government had signed deals with international companies to deploy 7.5 GW of solar capacity.
Al-Najjar stressed that the Central Bank has provided the necessary financing and called on local and international investors to take part in the bank’s initiative to construct solar plants.