With international finance corporation

Iraq signs landmark agreement to develop and upgrade Baghdad international airport

BAGHDAD, September 3 — On Sunday, Prime Minister Mohammed Shia’ Al-Sudani of Iraq presided over the signing of a significant agreement with the International Finance Corporation (IFC) to develop and rehabilitate Baghdad International Airport. The signing ceremony was attended by the Director-General of the Civil Aviation Authority on the Iraqi side.

The agreement encompasses the provision of a comprehensive investment portfolio by the international institution, covering the expansion, financing, operation, and maintenance of the international airport. This initiative aims to enhance the airport’s facilities, safety factors, and overall services to align with global airport standards, with the involvement of a specialized global company.

Prime Minister Al-Sudani emphasized that this agreement is one of several that will be forged with the private sector, which will play a pivotal role in developing the infrastructure across various vital sectors in Iraq, in line with a 2030 economic vision that bolsters the sustainable development required for the Iraqi economy.

He further stressed that the government places significant importance on the Baghdad International Airport, considering it a cultural gateway representing Iraq and its people. This falls within a comprehensive vision that includes all airports and emphasizes diversifying transportation modes and fostering connectivity with regional and global partners.

The agreement outlines that the International Finance Corporation, a member of the World Bank Group, will provide consultancy for enhancing the role of the private sector in public services in partnership with the public sector, especially in sectors facing future challenges.

It is worth noting that the International Finance Corporation possesses extensive experience in airport rehabilitation, both in the region and globally, having previously overseen the development and expansion of key airports in Saudi Arabia and Turkey, as well as Queen Alia International Airport in the Jordanian capital, Amman.