Iraq will soon hold talks with the International Finance Corporation (IFC) to seek funds for its first blue ammonia project, an Iraqi official has said.

The project is part of a “climatic and environment” strategy which includes several projects that will bring Iraq in line with global standards for the protection of the climate and environment, said Haidar Makieh, Chairman of Iraq’s National Investment Commission.

In a statement published by Al-Iqtisad News and other local publications, Makieh said the new strategy would be launched within two months.

“We will cooperate with IFC and the private sector to support this strategy, which includes several relevant projects,” Makieh said.

Besides the blue ammonia project, Iraq will also seek finance from IFC, an affiliate of the World Bank, to fund sustainable forests, waste-to-energy projects and other plan, he added.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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