Iraq submits a message to join the Asian Infrastructure Investment Bank

Ministry of Foreign Affairs building. "Internet"
 
11/16/2021

Economy News - Baghdad

The Iraqi embassy in Beijing announced, on Tuesday, that Iraq submitted a letter to its joining the Asian Infrastructure Investment Bank, while noting that Iraq is in dire need of infrastructure reconstruction projects, especially in the field of electric power.

The embassy said in a statement seen by "Economy News", that "the ambassador of the Republic of Iraq in Beijing, Shorsh Khaled Saeed, met with the Vice President of the Asian Investment Bank for Infrastructure, who is specialized in the affairs of joining the new members, Ludger Schocknecht," noting that "an explanation was provided about the steps that will be taken after The document and letter of Iraq's accession to the Bank were delivered.

And she added, "Iraq's request will be referred to the Board of Directors during the next week to vote and approve it, and then Iraq's request will be presented to the Board of Governors to vote and approve Iraq's accession, which will take about twenty days," expressing his hope "that this will be completed." Procedures by the end of this year, so that Iraq will be declared a visible member, and thus Iraq will become a full member.

For his part, the Iraqi ambassador affirmed, "Iraq's keenness and seriousness to join the Bank," noting that "Iraq is in dire need of infrastructure reconstruction projects, especially in the field of electric power, due to the damage to its infrastructure as a result of previous wars and terrorist attacks against some regions of Iraq." ".

It is worth noting that the bank, which is headquartered in the Chinese capital, Beijing, has provided dozens of loans to its members from countries with the aim of establishing infrastructure projects.

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