ERBIL, Kurdistan Region of Iraq – Iraqi Prime Minister Mohammed Shia' al-Sudani on Sunday met with World Bank Vice President for the Middle East and North Africa Ousmane Dione, discussing the World Bank's coordination with the Iraqi public and private sector and its projects in Iraq.

The World Bank delegation reviewed with Sudani "projects under discussion with relevant ministries and authorities in Iraq in the railway, highway, and energy sectors," read a statement by Sudani's office, such as "the fixed gas platform at Faw Port, the Ministry of Electricity's plan for the coming years to expand electricity production, transmission, and distribution," in addition to other infrastructure projects.

Sudani praised the role of the World Bank and underscored the importance of the bank providing financial support to the Iraqi private sector through the International Finance Corporation (IFC).

"IFC was the lead arranger for a five‑year, $360 million loan to Basrah Gas Company for one of the largest gas flaring reduction projects in the world – to help improve energy access," according to the World Bank's official website, adding that the IFC also allocated a "$125 million financing package for a modern shipping terminal in Umm Qasr Port in Basra."

The World Bank has been a crucial partner of Iraq that has repeatedly offered Baghdad economic assistance during periods of difficulty, particularly after the Islamic State's (ISIS) attack on large swathes of Iraqi territory and the recession during the COVID-19 pandemic of 2019.

In August 2021, the World Bank approved a five-year framework starting in 2022, proposing a number of strategic interventions to help the country get back on its feet after the pandemic struck, aimed at organizing governance, improving public and private sectors and strengthening human capital.

Dione expressed the World Bank's "readiness to stand with Iraq in its development renaissance" as well as their "willingness to provide financing facilities for projects, including private sector projects."