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Middle EastDecember 1 2023

Diversification away from fossil fuels a priority for Iraq as it joins the EBRD

Now that Iraq has joined the European Bank for Reconstruction and Development, can it use development bank money and know-how to build a ‘greener’ economy?
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Diversification away from fossil fuels a priority for Iraq as it joins the EBRDImage: Getty Images

Financing Iraq’s green transition and supporting Iraq’s banking sector are key priorities for the European Bank for Reconstruction and Development (EBRD), as it recently announced that Iraq had become its latest shareholder.

The country’s membership — folded into the bank’s southern and eastern Mediterranean (Semed) region — forms part of the EBRD’s wider shareholder expansion, including into sub-Saharan Africa.

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